FADC case shows RFAs face big challenges under new laws

And while that statement often has more sinister connotations, my meaning is the change that has been talked about for so long, and we have been waiting for, is now about to break and wash across all of us.

Also, while we have all had a pretty good idea what this all means and looks like, it's come with a more recent plot twist most of us probably didn't anticipate, even though it has been written in the back and white for the better part of a decade.

What I'm eluding to is the recent FADC decision against an AFA doing insurance. Here's my two cents and some of it won't be appreciated. I get that. At the same time, we RFA's have been operating based on a loose expectation that we would be measured by the AFA standard if called to account.

Though the expectation of measurement against the AFA Code and the reality for RFAs, has seen that the FMA to date has had little in the way of traction to pursue RFA’s. This has somewhat muted the noise and association to the AFA standard if called to account as an RFA.