AN UPDATE on where Guernsey stands in relation to the UK’s retail distribution review is expected next month.

Carl Rosumek, director of investment business at the Guernsey Financial Services Commission, told the audience at the latest Chartered Institute for Securities and Investment seminar in Guernsey that the commission had recently issued a ‘fact-finding’ questionnaire to 90 local firms expected to be affected in some way by the changes, due to come into effect in the UK on 1 January 2013.

Mr Rosumek said the responses, which are due back by 7 October, would help the GFSC to formulate its own plans for RDR.

He then hoped the commission would be able to give a further update on RDR at its industry presentations on 20 October.

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