On 1 September 2010, Ken Hogg of the Financial Services Authority (FSA) gave a speech on the future of the life assurance industry. In his speech, Mr Hogg summarised the FSA's current progress on with-profits review, retail distribution review and the implementation of Solvency II (reforms all relevant to the life sector). On Solvency II, he indicated his approval of the decision to include liquidity premium testing within QIS5. Mr Hogg said that life insurance undertakings need to consider the new challenges of accessing customers in light of the implementation of the Retail Distribution Review (RDR), where payments to independent financial advisors will no longer be permitted. The RDR requires firms to find other methods to make their products both more visible and more attractive.