Regulation

PLATFORMS

Today's confirmation that cash rebates will be banned is a 'blow' to wrap platforms and presents a 'significant challenge' to their business models, fund supermarket Skandia has said.

The Pensions Management Institute (PMI) has launched an Retail Distribution Review (RDR) compliant pensions diploma for advisers wanting to boost their knowledge of the corporate pensions sector.

The unbundling of platform charges will result in greater price competition between fund providers, the Financial Services Authority (FSA) said today.

The Financial Services Authority (FSA) has suggested it will not read across its proposed ban on platform rebates to life companies, but has promised to explore the issue further.

The ban on rebates from fund managers to platform providers is to cost platform operators up to £10m a year, the FSA has estimated.

The FSA has decided to apply its ban on platform rebates to execution-only propositions.

Industry trade bodies have criticised proposed changes to the Financial Services Compensation Scheme (FSCS) sourcebook.

The Financial Services Compensation Scheme (FSCS) has begun the process of dealing with claims from clients of failed spreadbetting firm Worldspreads.

The Financial Services Authority (FSA) has publicly censured Kaupthing Singer and Friedlander Limited (KSFL) for failures in the assessment and reporting of its liquidity position in 2008.