South Africa

Details

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

Africa Regulatory Center of Excellence

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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.

 

 

Latest articles & publications

 

Responses to RDR document start to formulate

South Africa’s insurance industry has largely welcomed the release of the Retail Distribution Review (RDR) discussion document, which was released by the Financial Services Board (FSB) on 7 November.
 

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Contact

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