All change please: What the platform rebate bans means in practice

Implementation of the final tranche of Retail Distribution Review regulation, relating to the way in which the rules affect platform providers, has now been put in place. From 6 April 2015, platform providers will not be able to retain rebates from product providers, or fund managers, for any new business transacted. These rebates must be returned to the client in the form of unit rebates or, where they do not exceed £1 per month, per fund-holding, in cash. From 6 April 2016, this will also apply to all legacy business. Below is a quick reminder of some of the key considerations fo...