Platforms lobby FSA for regulatory change

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The UK Platform Group has called on the Financial Services Authority to reform platform regulation and scrap the UK's "unique packaged product regime".

Consisting of representatives from CoFunds, Fidelity FundsNetwork, Standard Life, and Selestia & Skandia MultiFunds, the UK Platform Group was set up in September to develop industry-wide standards of practice to benefit consumers, advisers and fund providers. And in one of its first actions since being established, the Group says it has submitted a joint paper to the FSA on regulatory changes for the platform industry as part of its goal to operate in an “open, transparent and independent way”. Brett Williams, chief executive officer of Selestia and Skandia MultiFunds, says as part of ...

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