Platforms are playing 'dangerous waiting game' on conversions ahead of new rules which come into force on 1 February, writes Kevin Okell...
It's the final countdown for the financial services industry on transfers. As of 1 February, new rules introduced by the Financial Conduct Authority's (FCA) PS19-29 will come into force. The policy statement on "Making Transfers Simpler" introduces a package of rules that require platforms to: offer consumers the choice to transfer units in investment funds that are common to both platforms via an in-specie transfer request a conversion of unit classes, where this is necessary to enable an in-specie transfer to take place ensure that consumers moving onto a new platform are give...
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