The regulator is set to meet members of the Tax Incentivised Savings Association (TISA) to discuss re-registration rules, with the trade body reiterating to platforms best practice guidelines when dealing with super clean share classes after issues arose recently.
Investment Week can reveal the Financial Conduct Authority (FCA) has contacted TISA in the last few weeks following fresh concerns over re-reg caused by super clean share classes. Investment Week recently highlighted the case of a wealth adviser who was struggling to move his client from Cofunds to Transact because of complications with the client's holdings in new, super clean share classes. Murdoch Asset Management director Tony Dunne tried to re-register the client, but said he was left with the choice of leaving the super clean portion of the client's portfolio on Cofunds, or sell...
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