RDR platform paper: FSA attacks platforms for poor levels of disclosure

The FSA said a review of 12 platforms and their disclosure documents has brought to light worrying levels of disclosure in both documentation and marketing literature. It particular, it highlighted poorly explained charges, badly structured documents, along with a lack of customer focus. "The disclosure of platform fees and charges in our sample was particularly poor," says the FSA in its platform operator disclosure documents: Good and poor practice report. "We have seen many instances where disclosure documents and marketing brochures provide information about the benefits of in...