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...
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