HM Treasury

Financial services

Retail Financial Services Forum

Introduction

The Retail Financial Services Forum (RFSF) was created in 2008 with the goal of championing retail consumers’ interests and helping to restore confidence in financial services. It includes representatives from the financial services industry, consumer groups, regulators and Government. It meets every two months. It is chaired by the Exchequer Secretary to the Treasury, Sarah McCarthy-Fry.

At Budget 2009, the Treasury asked the RFSF to oversee the development and implementation of some of the consumer-focused measures in ‘Reforming Financial Markets’, July 2009. The RFSF has examined and advised on the improvements to the wider implications process, review of the money guidance pathfinder and a new simple, transparent products regime.

The overall aim of the RFSF is to help ensure that retail financial services work in the interests of consumers, the economy and society. The RFSF seeks to improve consumers’ confidence and trust in financial services by identifying and promoting action on the part of the industry, Government and the regulators.

The Forum seeks to identify and promote action by:

Discussion paper

On 23 March 2010 the Retail Financial Services Forum published a paper on simple, transparent products. This paper summarises the Forum’s discussions on simple transparent products to date.

Comments and further evidence are welcome and should be submitted to rfsfsecretariat@hmtreasury.gsi.gov.uk by 30 April.

Membership

Current members of the Retail Financial Services Forum (at 17.03.10)

For more information please contact Joanna Bibby-Scullion, Secretariat to the Retail Financial Services Forum, on RFSFsecretariat@hmtreasury.gsi.gov.uk

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