PanaceaIFA.com TSC Review Survey 18/07/2011

1. PanaceaIFA.com TSC Review Survey

Has the TSC RDR review rendered you “Happy”?

The Treasury Select Committee's report on the Retail Distribution Review on last Saturday (16 July 2011) has been greeted with a strangely mixed reception, the FSA is quoted as saying “The FSA notes the report’s recommendation on timing but remains committed to implementation from January 2013”.

The CII and ABI are unhappy saying that such a delay would increase uncertainty and damage momentum. Pro-RDR IFAs think that no more time should be given and the anti-RDR IFAs see this as a positive step.

The latest article on the subject by PanaceaIFA ‘Time to stop digging?’ has gained much interest and comment.

A victory for common sense or a case of divide and rule? What do you think?

Have your say via this short poll, the results of which will be passed to Mark Garnier MP, AIFA, CII and the ABI.

CLOSING DATE 31ST JULY 2011.

Question Title

1. Do you think the FSA will take any notice of the report? (Required.)

Yes

Don't know

Please add any further comments here:

Question Title

2. What effect do you think that the extension of the RDR date for another 12 months to 2014 will have on your business plan? (Required.)

Positive

Negative

No impact

Please add any further comments here:

Question Title

3. Would it be more prudent for the FSA to wait for the European Commission to set out its Packaged Retail Investment Products (PRIPs) legislation initiative before implementing RDR? (Required.)

Yes

Don't know

Please add any further comments here:

Question Title

4. Do you think there is a good balance between the need to improve professionalism via higher qualifications and 'grandfathering'? (Required.)

Yes

Don't know

Please add any further comments here:

Question Title

5. Do you believe that your business will lose clients from moving from a commission to fee based model? (Required.)

Yes

Don't know

Please add any further comments here:

Question Title

6. Do you think that RDR is good for the consumer? (Required.)

Yes

Don't know

Question Title

7. If yes, why? (please tick all that apply)

Reduced choice of products

Reduced choice of advisers

Clients will pay for advice separate from product

More choice of products

More choice of advisers

Advisers specialising in key FS expertise

More professionalism from qualifications

Improved transparency and trust in advisers

Please add any further comments here:

Question Title

8. Do you think the FCA is a re-badged FSA? (Required.)

Yes

Don't know

Please add any further comments here:

Question Title

9. Do you think the TSC recommendation regarding the Longstop is satisfactory? (Required.)

Yes

Don't know

Please add any further comments here:

Question Title

10. Is it important that the FCA be accountable to another higher authority, eg Parliament, a watchdog?
(Required.)

Yes

Don't know

Please add any further comments here:

Question Title

* 1. Do you think the FSA will take any notice of the report? (Required.)

Question Title

* 2. What effect do you think that the extension of the RDR date for another 12 months to 2014 will have on your business plan? (Required.)

Question Title

* 3. Would it be more prudent for the FSA to wait for the European Commission to set out its Packaged Retail Investment Products (PRIPs) legislation initiative before implementing RDR? (Required.)

Question Title

* 4. Do you think there is a good balance between the need to improve professionalism via higher qualifications and 'grandfathering'? (Required.)

Question Title

* 5. Do you believe that your business will lose clients from moving from a commission to fee based model? (Required.)

Question Title

* 6. Do you think that RDR is good for the consumer? (Required.)

Question Title

* 7. If yes, why? (please tick all that apply)

Question Title

* 8. Do you think the FCA is a re-badged FSA? (Required.)

Question Title

* 9. Do you think the TSC recommendation regarding the Longstop is satisfactory? (Required.)

Question Title

* 10. Is it important that the FCA be accountable to another higher authority, eg Parliament, a watchdog? (Required.)

1. Do you think the FSA will take any notice of the report? (Required.)

2. What effect do you think that the extension of the RDR date for another 12 months to 2014 will have on your business plan? (Required.)

3. Would it be more prudent for the FSA to wait for the European Commission to set out its Packaged Retail Investment Products (PRIPs) legislation initiative before implementing RDR? (Required.)

4. Do you think there is a good balance between the need to improve professionalism via higher qualifications and 'grandfathering'? (Required.)

5. Do you believe that your business will lose clients from moving from a commission to fee based model? (Required.)

6. Do you think that RDR is good for the consumer? (Required.)

7. If yes, why? (please tick all that apply)

8. Do you think the FCA is a re-badged FSA? (Required.)

9. Do you think the TSC recommendation regarding the Longstop is satisfactory? (Required.)

10. Is it important that the FCA be accountable to another higher authority, eg Parliament, a watchdog?
(Required.)