Rebate ban to cost platforms up to £10m a year

clock

The ban on rebates from fund managers to platform providers is to cost platform operators up to £10m a year, the FSA has estimated.

The regulator said its move to ban payments from fund managers to platforms would be the main cause of ongoing costs for the latter, which could be as high as £9.8m. One-off costs for introducing the FSA's platform proposals are estimated by Deloitte to be between £11.6m and £37.8m for providers. Fund managers face one-off costs of £3.7m, with ongoing costs of £1.1m.

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 Regulation

Consumer Duty two years on: Challenges remain for advisers

Consumer Duty two years on: Challenges remain for advisers

‘Biggest challenge for advisers at the moment'

Sahar Nazir
clock 31 July 2025 • 4 min read
FCA and FOS reveal reforms as part of redress 'modernisation'

FCA and FOS reveal reforms as part of redress 'modernisation'

Follows joint call for input and government proposals

Isabel Baxter
clock 15 July 2025 • 3 min read
Professional Adviser TV: Remaining client centric in a time of increased regulation and digital demands

Professional Adviser TV: Remaining client centric in a time of increased regulation and digital demands

Kevin Bailey and James Sullivan also unpack what value looks like

Professional Adviser
clock 04 July 2025 • 1 min read