The Financial Conduct Authority is rolling out a series of workshops for advisers, aimed at the implementation of the Retail Distribution Review.
A FCA spokesperson confirmed to FTAdviser that, although the programme is still being worked out, topics will include independent and restricted propositions as well as disclosure.
This follows on from the FCA publishing the first of its three RDR implementation reviews. The first thematic review of 50 firms, published in July, revealed the regulator had concerns about proposition disclosure.
The FCA also said it did not approve of advisers disclosing charges solely in percentages without stating fees in cash terms or offering a cash equivalent and it said some charging structures were confusing for clients.
The focus on the independent and restricted definitions also follows on from the admission earlier this month by Martin Wheatley, chief executive of the conduct watchdog, that the new binary breakdown is “not completely working”.
Speaking at a roundtable giving an update on the first 12 months under the new regime, director of long-term savings and investments Nick Poyntz-Wright said there was still a lack of clarity over the new definitions and that the FCA would be “redoubling our efforts” in the coming year.
Mr Wheatley added there was more work needing to be done on clarifying the definitions but stated that the regulator would not be seeking to change the rules.
A FCA spokesman said: “Positive compliance workshop provide an opportunity for firms to hear directly from us and to share examples of good practice.
“We believe the content will help firms develop and enhance their business and provide clarity on our requirements. Later this quarter, the seminars will include sessions helping firms understand the requirements under RDR.”
The FCA is still yet to publish its further two thematic reviews into the RDR implementation.
