Platform paper: FSA bows to supermarkets on rebates

clock

The FSA today said in its long-awaited consultation paper platforms can continue to receive rebates from fund managers.

In a departure from its stance in March, when it expressed a preference for banning rebates, the FSA said platforms can continue to receive the payments from fund managers but insisted they must be fully disclosed. The FSA says: "We have decided not to propose changes that would require product charges and platform charges to be separated (i.e. bring an end to bundled charging). "Instead of this, we propose still to allow fund managers and other product providers to make payments to platforms for the administration services they receive, subject to improved disclosure of the payments ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Aberdeen's Kenny: 'We are not just going to switch Elevate off'

Aberdeen's Kenny: 'We are not just going to switch Elevate off'

Admits adviser communication on Elevate has been lacking

Jenna Brown
clock 10 June 2025 • 4 min read
Schroders UK Platform Awards 2025: Entry closing date fast approaching!

Schroders UK Platform Awards 2025: Entry closing date fast approaching!

Shortlists will be published in early July

Professional Adviser
clock 05 June 2025 • 1 min read
Parmenion group operating profit rises to £17.5m in 2024

Parmenion group operating profit rises to £17.5m in 2024

Platform’s flows doubled during the 12 months to 31 December

Jenna Brown
clock 03 June 2025 • 2 min read