The Financial Services Authority (FSA) has begun informal discussions with key industry players about a potential ban on all fund commission payments from the start of 2014 for business written on platforms.
Investment Week can reveal the regulator is considering setting a deadline date for a complete ban on fund commission rebates paid to advisers from platforms from 1 January 2014, including legacy arrangements. If introduced, such a move would effectively end trail commission paid to advisers on funds they recommended to clients pre-RDR. The regulator has begun informal consultations with the industry and may reveal the proposals in its final platform paper. It is looking at insisting platforms move legacy money in investment funds over to new pricing models by that date, which may ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
