UK distributors to adopt discretionary model in response to Retail Distribution Review

FSA headquarters
The FSA headquarters in London

The implementation of the Retail Distribution Review (RDR) by the UK Financial Services Authority (FSA) will drive structured product distributors away from the advisory model and towards a discretionary approach, warn market participants.

“The FSA has proposed the question as: 'Is it better to receive bad advice or no advice?' and it has decided it is best to receive no advice,” says Simon Gleeson, partner at law firm Clifford Chance in London.

The RDR will cut the majority of the UK market fro

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