8th March 2011

The RDR Question Time event

The RDR Question Time event went very well on Monday, a great turnout and with many RDR related issues discussed.

All the guest panellists were impressed with the passion and spirit of the IFA community in the face of the uphill battle they fight.

A number of provider firms who had representatives at the event commented upon the usefulness of the morning because although they focus efforts on helping IFAs in the transition, it is rare they hear what the issues are that really cause the problems.

Also, it was interesting to note how few IFAs, as well as Mark Garnier, know about the Regulators Code and I am pleased to have cast light where it was once dark.

Money Marketing, IFA online and CItywire all reported on the event and some of the comments in the article posts made interesting reading.

“When Mr Sants said that people should be scared of the power of the FSA, he obviously was not speaking in jest.

Its all very well MPs bemoaning the regulator being unaccountable to Parliament, they gave them/it the automony in the first place, in effect granting a licence to terrorise without reproach, a situation which has no rightfull place in any civilised democracy. 

Gadaffi himself would be proud of this way of doing business”. Money Marketing

 “The anti-democratic forces in this country are quite disturbing. That we the electors change a government but still end up with the same people in power running the same regulators with this same dreadful RDR still in place is an affront to our democratic freedoms. How can it be that those charged with the responsibility for regulating the financial services industry at the time when only taxpayers money saved the system from complete collapse are still involved with regulation of the financial services industry? The fact that these people are still in power is the responsibility of politicians. If it is not the responsibility of politicians then what is the purpose of elections”? IFAonline

Mark Garnier is fighting the cause of the IFA. He is one of the few MP's with some sense. Although he is a Tory member of this coalition government that is sending the country to oblivion, at least he is speaking up for the plight of the IFA and sanity. We need more like him, instead of the empty vessels that rattle around Westminster. Citywire

Mark has invited any IFAs who wish to attend the TSC meeting on Wednesday to turn up at Portcullis House. This will be an interesting session as Mr Sants will be there for “Question Time”!

RDR, Panacea Comment