Banks pull back in face of RDR costs
Record fines and billion-pound compensation costs for mis-selling have become regular headlines for the banking sector. In the UK, the RDR aims to put an end to any wrongdoing or mis-selling in the world of financial advice, but at what cost to firms having to implement it? Jessica Meek investigates
When future generations look back at the financial crisis of 2008-2009, alongside terms such as subprime, leverage and toxic culture, they will also find themselves reading about repeated incidents of mis-selling within the financial sector.
Both the investment and retail arms of the banking sector have been accused of repeated episodes of mis-selling over the last few years. And it continues to be at the top of the agenda. Operational Risk & Regulation named it as one of its top 10 operational
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