Blog: Gone forever... the notion of platforms as distributors

The FSA has delivered its long-awaited platform paper and my initial reaction is that the FSA has drifted back towards the direction of its earlier, transparency-obsessed paper. That paper advocated the banning of all rebates from fund managers, encouraged platform-to-platform re-registration and was a significant threat to the business models of fund supermarkets. And the clear assertion in this week's paper that the "proposed rule COBS 6.1E.1R requires the platform service provider to clearly disclose the fee/commission it arranges to accept from third parties such as fund managers"...