Platforms: FSA updates good and bad practice examples

The FSA's independence rule Currently the independence rule states that a firm must not hold itself out to a client as acting independently unless it intends to provide personal recommendations on packaged products from the whole market (or the whole of a sector of the market). Using one platform for all clients The FSA said it believes it is "likely to be very rare, if possible at all," that a firm could use one platform for all clients and meet its independence rule. Using one platform for the majority of clients The regulator said this is a much more likely scenario because t...