Fidelity says it is "hesitant" about developing a platform-to-platform re-registration mechanism as set out under TISA's recent service level agreement (SLA) until further details are clarified.
Head of platform sales and direct contribution business Julian Webb says TISA's industry-wide SLA is "laudable" but Fidelity will not push ahead with building a system until finer details emerge on issues such as multiple share classes and whether legacy assets will be included. "I would hesitate building a system today," he says (pictured). "We are certainly going ahead with our unbundled pricing structure but platform-to-platform re-registration needs more details." Last week, TISA launched an SLA which allows platforms to begin piloting their re-reg procedures to help them meet the...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
