Fidelity 'confident' FSA will relent on cash rebate ban

Fidelity’s head of UK fund partners revealed the platform is lobbying the FSA with the same intensity as its efforts to overturn the planned ban on fund manager rebates and is hopeful a “working solution” will be found. “The FSA now well understands the issues raised and I am confident we will see a response addressing these issues in the policy statement,” said Dymott. “Whether or not we get a full reversal I don’t know but I think we will get a cost-effective way of dealing with these issues.” These include the cost of processing tiny unit rebates, the fact platforms can still offer...