Aviva said it is waiting with "bated breath" for publication of the platform policy paper - something it says could have a "fundamental impact" on how players operate.
Speaking at a Capita Financial Software briefing in London this week, Aviva senior marketing manager Phil Ralli said the paper's latest delay to Q3 means platforms face the daunting prospect of having just 15 months to implement what could be significant changes to systems.
"Some of these changes could be fundamental - platforms now face one hell of a job to get ready, it could be some task," he said.
"We are still assuming implementation of final rules will coincide with RDR - if that happens, platform will have 15 months to implement changes."
Besides certain positives to come out of Consultation Paper 10/29, including the key role platforms will play in adviser charging and the re-registration requirement, Ralli expressed concerns over a number of other policies proposed in November's paper.
Chief amongst these is the controversial plan to ban cash rebates.
Ralli echoed The Platforum managing director Holly Mackay's description of the proposal as a "zero-sum game". He said rebating in the form of units could lead to increased platform charges as players struggle to cope with potentially millions of small stock reconciliations.
The other option of establishing additional asset classes would "sort out" the rebate problem but could also result in massive costs for both platforms and fund managers, he said.
"This could see a scenario where platform costs increase."
He also said plans to require platforms to provide customers with the same level of fund information they would receive if going directly to fund managers would prove "very complicated" and overload consumers with detail.
But he revealed a proposal suggested by Aviva of giving customers an opt-out clause in platform literature has been well received.
"The FSA have asked for platforms to say what cost savings this would bring - so maybe there is a chink of light."
Meanwhile, The Platforum's Holly Mackay said all the importance attached to the delayed platform policy paper and cash rebate ban is something of a red herring.
"I think you guys should focus on the Thematic Review and Suitability Paper," she said.
The Thematic Review was a nine-point FSA check-list which Mackay described as a set of regulatory "speed cameras".
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