The Financial Services Authority (FSA) is delaying implementation of its platform fund reporting requirements by one year due to "operational issues" which have recently come to light.
In its August policy paper (11/9), the watchdog said from January 1, 2013, platforms will be required to provide investors with notifications received from fund managers surrounding any changes in their investments. But the regulator today said it has decided to defer implementation of the rules to the end of 2013 due to the recent lobbying efforts of trade bodies and platforms. "We have decided to defer from the end of 2012 to the end of 2013 the implementation of the nominee information provision requirement," said an FSA spokesperson. "This is around some of the operational issues ...
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