FCA has published the results of its thematic review into life insurance and advisory firms' compliance with the Retail Distribution Review (RDR). It has found widespread evidence of payments and joint ventures between providers and distributors that breach FCA's inducements rules and the principle of managing conflicts of interest fairly. FCA is concerned these practices undermine the purpose of the RDR. Two firms have been referred to enforcement. The results of the review are accompanied by proposed guidance setting out examples of good and bad practice, and FCA's views on how firms can act in compliance with RDR. FCA expects firms to review and revise their existing arrangements as required. Although the review was focused on retail distribution of life insurance, FCA stresses that the guidance is relevant to all providers and advisers on retail investment products. The consultation on the proposed guidance is open until 18 October. (Source: GC13/5 Supervising Retail Investment Advice: Inducements and Conflicts of Interest)