Rebate delay will create 'RDR 2': Fidelity

clock

Fidelity's Ed Dymott has slammed the FSA's "shambolic" handling of platform regulation and said the delay in platform charging rules until after 2013 will create an "RDR 2".

In yesterday's paper, the regulator set out plans to ban cash rebates and fund manager rebates but said this will not happen before implementation of the retail distribution review (RDR). Dymott (pictured), head of fund partners at Fidelity, said the misalignment of platform and RDR rules runs the risk of creating a two-staged regulatory overhaul. "What we learnt yesterday was a number of major decisions will be delayed beyond the current implementation date so we have now seen the conception of an RDR 2," he said. "This clearly shows the RDR is not going to finish in December 2012 bu...

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

Platform innovation: Terry Huddart on Scottish Widows' trading journey

Platform innovation: Terry Huddart on Scottish Widows' trading journey

‘Safe to say the platform has likely found its forever home, so Phil and Kirsty will be delighted’

Terry Huddart
clock 13 August 2025 • 5 min read
Ross Allan: The quiet strength behind great client outcomes

Ross Allan: The quiet strength behind great client outcomes

Blocking out the noise and focusing on delivery

Ross Allan
clock 08 July 2025 • 4 min read
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