The FSA now intends to publish its long-awaited final platform paper in Q2 2013, having originally planned to release final rules by the end of last year.
IFAonline's sister title Investment Week revealed last December the regulator had postponed its policy statement until early 2013 as it considered the tax implications of its plan to permit unit rebates but ban cash rebates. But the committee overseeing the drawing up of the rules is now expected to meet on the third Thursday in Q2 (18 April), with the policy statement being published the next day or the following Monday. It is likely that platforms will still be given 12 months to implement the proposed changes, meaning a deadline of end-April 2014 for the industry to adapt to what s...
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
