South Africa


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

Africa Regulatory Center of Excellence

KPMG’s Financial Services Regulatory Centers of Excellence
KPMG’s Financial Services Regulatory Centre 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.



Latest RDR updates and proposals:


Retail Distribution Review – the breakdown

The Retail Distribution Review (RDR) was initiated by the Financial Services Board (FSB) in an attempt to ensure that customers receive fair outcomes when purchasing financial products.

Retail Distribution Review - summary the 55 proposals

In November 2014, the FSB issued the Retail Distribution Review (“RDR”) paper, outlining the RDR results and the proposed reforms affecting retail customers in South Africa.

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.

Retail Distribution Review - Ride the wave with us

The Financial Services Sector is facing a ‘Perfect Storm’ in terms of the amount of Regulatory driven change required to be introduced over the next few years.

RDR training service offering

Our RDR training service offering includes but is not limited to:


  • Detailed introduction and interpretation of the RDR proposals released by the FSB
  • Impact of RDR for retail consumers and product providers for all affected financial services players
  • What the introduction of RDR means for adviser fee structures, adviser relationships and other potential changes to the advice landscape
  • Strategic considerations for your business including risk and opportunities that may arise with implementation of RDR


Our training workshops are easily tailored to suit the needs of your organisation and specific products, as well as for non-executive directors, executive directors, executive management, design and pricing teams and IT service teams.


Share this

Share this



Antoinette Malherbe
Tel: +27 (0)83 458 8484


Kashmira Naran


Kashmira Naran
Tel: +27 (0)82 710 7629