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Retail Distribution Review (“RDR”)

A 2018 Update

The Financial Sector Conduct Authority (“FSCA”) previously known as the Financial Services Board (“FSB”) has implemented the RDR to, amongst other things, help ensure that customers are treated fairly when purchasing financial products. RDR is linked to the Treating Customers Fairly (“TCF”) framework, TCF being a principles based framework and the RDR providing some of the rules associated with that framework. RDR is intended to be implemented in 3 phases, with the first phase having commenced on 1 January 2018.

Retail Distribution Review (“RDR”) Update 2018


The Financial Sector Conduct Authority (“FSCA”) previously known as the Financial Services Board (“FSB”) has implemented the RDR to, amongst other things, help ensure that customers are treated fairly when purchasing financial products. RDR is linked to the Treating Customers Fairly (“TCF”) framework, TCF being a principles based framework and the RDR providing some of the rules associated with that framework.

RDR is intended to be implemented in 3 phases, with the first phase having commenced on 1 January 2018.


FSCA’s Status Update


In June 2018, the FSCA published a document titled Retail Distribution Review: Status update - June 2018. The purpose of this document was to provide an update on the current implementation status of the 55 (fifty-five) RDR regulatory proposals initially published in 2014.


RDR and Twin Peaks


From a broader perspective, we foresee that RDR will have implications in phase 2 (two) of twin peaks implementation, with RDR phase 1 (one) being finalised in 2019 and RDR phase 2 (two) commencing in 2020.


Deloitte’s Governance, Risk and Regulatory team has deep subject matter expertise of RDR and is well equipped to assist clients with an end to end RDR solution, this includes:

  • determining obligations/impact/gap;
  • implementation of RDR programme;
  • monitoring of RDR programme; and
  • conducting RDR training.

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