The survey was conducted over the last month amongst CISI members who have attended a fourth round of Retail Distribution Review roadshows throughout the UK, held in London, Glasgow, Belfast, Liverpool, Birmingham, Leeds, Newcastle, Exeter, Bristol, Bournemouth, Norwich and Cambridge with a total of 530 attendees to date.
During these roadshows CISI members were asked "Do you agree that the UK Regulator should be given powers to ban retail products?"
This question was asked within the framework of the announcement earlier this year that the new Financial Conduct Authority, one of the regulatory bodies replacing the FSA, will be given the powers to ban retail products or limit their distribution for up to 12 months.
While 72% agreed the regulator should have this power, 27% were strongly in agreement. The CISI found there were regional variations in responses but all regions responded well over 60% in agreement.
