The FSCA’s predecessor, the Financial Services Board, published its Retail Distribution Review (RDR) discussion document in November 2014. Since then, there have been various subsequent RDR communications with the most recent of these being published during December 2019 where six new documents have been made available to the public on the FSCA website.
The December 2019 RDR General Status Update references the 2014 RDR discussion document as having proposed a number of wide-ranging reforms to the regulatory framework for financial advice and the distribution of financial products, as part of a multi-year implementation project. The General Status Update document also lists the current status of all the regulatory proposals contained in the initial 2014 RDR document noting any developments.
The six latest RDR publications are:
- Retail Distribution Review: General Status Update as at December 2019
- Retail Distribution Review: Intermediary Activity Segmentation and Related Matters
- Retail Distribution Review: Equivalence of Reward Position Paper
- Retail Distribution Review: Discussion Document on Categorisation of Financial Advisors and Related matters (published together with Annexure A: Feedback Template)
- Retail Distribution Review: Second Discussion Document on Investment Related Matters (published together with Annexure A: Feedback Template)
- Retail Distribution Review: Discussion Document on a Remuneration Dispensation for Savings and Investment Products for the Low-Income Market (RDR Proposal TT)
Some of the documents above are currently open for public comment, in particular the Proposal TT document is open for comment until 28 February 2020 while the Advisor Categorisation Discussion and Second Investment Related Matters documents are open for comment until 31 March 2020. Masthead will review the publications and submit commentary where necessary.