The FSA gave platforms just two weeks to respond to an operational questionnaire which will be key in helping the regulator decide whether to pursue its controversial plan to ban cash rebates.
The questionnaire was sent to platforms on 25 March to gain further insight into how proposals set out in consultation paper CP 10/29 will impact their businesses. But with a deadline of 8 April, platforms only had a fortnight to structure their responses to several proposals, including the thorny issue of cash rebates. Platform players which originally sent a submission to the FSA setting out its opposition to a cash rebate ban again replied to the regulator's questionnaire last Friday. According to one industry figure, a number of platforms said in no uncertain terms the regulato...
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
