In a hearing on Tuesday 23 November, Hector Sants, Chief Executive of the Financial Services Authority told the Treasury Committee that the Retail Distribution Review had three specific outcomes:
- A transparent and fairer charging system
- A better qualification framework for advisers
- Greater clarity around the type of advice being offered
The Treasury Committee has decided to call for written evidence on these specific points: whether the RDR will achieve the stated outcomes and whether the outcomes could be achieved in other, potentially better, ways.
The Treasury Committee will decide whether and how to take this matter further in the light of the written evidence received.
Full details on how to submit written evidence to the Treasury Committee are contained in the Notes below.
Correspondence received before this announcement will not be treated as evidence.
NOTES ON SUBMISSION OF WRITTEN EVIDENCE
Written evidence should be in Word or rich text format—not PDF format—and sent by e-mail to [email protected]. The body of the e-mail must include a contact name, telephone number and postal address. The e-mail should also make clear who the submission is from. The deadline is 12 noon on Monday 17 January 2011. Submissions should be no longer than 2000 words. Submissions should be in the format of a self-contained memorandum. Paragraphs should be numbered for ease of reference, and the document must include an executive summary. Further guidance on the submission of evidence can be found at www.parliament.uk/parliamentary_committees/witness.cfm.
Submissions should be original work, not previously published or circulated elsewhere. Once submitted, your submission becomes the property of the Committee and no public use should be made of it unless you have first obtained permission from the Clerk of the Committee. Please bear in mind that Committees are not able to investigate individual cases.
The Committee normally, though not always, chooses to publish the written evidence it receives, either by printing the evidence, publishing it on the internet or by making it publicly available through the Parliamentary Archives. If there is any information you believe to be sensitive you should highlight it and explain what harm you believe would result from its disclosure; the Committee will take this into account in deciding whether to publish or further disclose the evidence.
For data protection purposes, it would be helpful if individuals wishing to submit written evidence send their contact details in a covering letter. You should be aware that there may be circumstances in which the House of Commons will be required to communicate information to third parties on request, in order to comply with its obligations under the Freedom of Information Act 2000.