FSA flexing its muscles with RDR letter, observers say
The UK Financial Services Authority (FSA) is setting out its stall as a proactive, interventionist regulator with a "Dear CEO" letter on the Retail Distribution Review (RDR), industry experts say. The letter, sent this week to a sample of life insurers and independent financial advisers, expresses concerns about firms trying to circumvent the adviser charging rules laid down by RDR.
The letter gives examples of activities about which the FSA has concerns – including product providers supplying
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