South Africa

Details

  • Industry: Financial Services
  • Type: Regulatory update
  • Date: 2014/08/28

Africa Regulatory Center of Excellence

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KPMG’s Financial Services Regulatory Centers of Excellence, our firms' leading global regulatory experts, can provide insights into the implications of the raft of regulatory change and the direction of developments around the world.

Retail Distribution Review (RDR) 

The purpose of the Retail Distribution Review (‘RDR’) by the Financial Services Board (‘FSB’) effectively seeks to ensure insurance distribution models are aligned to achieving Treating Customers Fairly (‘TCF’) outcomes.

With the introduction of the binder regulations two years ago, commission structures have come under scrutiny. The RDR was first Introduced by the Financial Services Authority (‘FSA’) and implemented in the UK at the end of December 2012.


The objectives of the RDR is to:

 

  • Promote appropriate, affordable and fair advice and intermediary services.
  • Support a sustainable business model for financial advice.
 

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Contact

Kashmira Naran
Manager
Tel: +27 (0)82 710 7629
kashmira.naran@kpmg.co.za