The Financial Services Authority has granted less than half of the 47 waiver requests it has received from advisers struggling to meet RDR requirements.
In a letter to the Treasury Select Committee, Martin Wheatley, managing director of the FSA, said advisers seeking a waiver had to meet statutory requirements before a waiver could be granted.
A total of 47 waivers had been received with 18 granted, two rejected, 21 withdrawn and six under consideration. A waiver is a request by a firm for an extension to the date they must comply with the RDR requirements.
Waiver requirements state that firms must demonstrate the rule is unduly burdensome or not fit for purpose and that modifying it would not create a risk for consumers. Advisers need to clearly provide evidence of the exceptional circumstances which mean they would not be able to meet the RDR requirements by the end of 2012.

Successful applications have been for the ill-health of the adviser, death of a spouse or ill-health of a family member who the adviser has had to care for. These have been granted a 12-month extension.
Mr Wheatley also said there were four alternative assessments available for advisers who disliked formal examinations and over 60 appropriate qualifications. The four assessments ranged from case study based reports to interview assessments.
However, he said, the majority of advisers had continued to opt for traditional exam-based methods of assessment.
Andrew Tyrie, chairman of the Treasury Select Committee, said: "The Committee welcomes the FSA's assurance that four alternative assessments are now available for those who prefer not to sit formal examinations. This will provide greater opportunities for compliance.
"As the deadline approaches, it is important that the FSA redoubles its efforts to inform the public of the changes and to increase the level of industry compliance."