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The RDR Timetable
The FSA stuck firmly to the RDR timetable it published in 2008 despite an economic crisis and plans to create two new regulators. All questions about whether or not the plans will go forward seem to have died away and we are now in the final stages as far as clarification of rules is concerned.
Areas where firms can move ahead with certainty are:
- Supporting their financial advisers and sellers to complete their higher qualifications
- Clarifying their offer to clients and re-training staff
- Budgeting and planning for a world without commissions.
There is now only a short time left to reach the higher standard which is daunting if you are starting from FPC (or equivalent) and trying to achieve what is a considerable step up. Start immediately if you haven't already.
The next (certain) steps that the FSA has published
| Q1 2009 |
FSA researching consumers views on the new approach and firms views on implementation costs |
| June 2009 |
Consultation Paper with draft rules |
| Q1 2010 |
Final Rules |
| 31st December 2012 |
Implementation complete |
Click on this link for a more comprehensive timetable
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