FSA: Platforms must disclose conflicts of interest

"It is important for platforms to manage any conflicts of interest appropriately concerning investment planning tools; for example, in relation to products from product providers which own or partly own the platform," says the FSA in its platform discussion paper. The statement could have far-reaching consequences for fund supermarkets which are part-owned by fund managers and for platforms such as Nucleus which are adviser-owned. "Some adviser firms hold shares in a platform operator," adds the FSA. "In such circumstances, the conflict should be disclosed and managed to ensure an adv...