FSA 'in theory' policy on single platforms risks independence

Advisers had taken comfort from the FSA’s decision, published in a policy paper this week, not to bar firms using a single platform from meeting its independence criteria. However, in the same paper, the regulator also said it would be concerned if firms claiming to be independent made “extensive” use of a single platform, or those which are paid a rebate by providers. Dale Thornley, of compliance firm the Alliance of IFAs (ALIFA), warns that what the FSA has stated as possible “in theory” is, in reality, unattainable. He said: “I cannot envisage circumstances where only one platfo...