Comment: Choice not direction important on platform rebates

The industry viewpoint on the bundled and unbundled pricing debate has been evolving. In the FSA’s last communication on this subject, it concluded that it would be desirable in principle to ban payments by fund managers to platforms and ban cash rebates to consumers. However, the regulator also noted that there “might be possible unintended consequences” from these rulings, so it would take a bit more time to make the final decision. Past experience suggests further changes can’t be ruled out. Significantly, the view was that whatever new rules are decided, these will not come into f...