commission rebates

The FSA will release a platform consultation paper within the next couple of months setting out draft rules on rebates and regulations for execution-only platforms, after Deloitte completed its research into the sector.

Advisers have given a cautious welcome to a new tool claiming to reveal and compare the amount of commission consumers are currently paying through their investments.

Advisers should consider the ownership of a platform when doing their due diligence as foreign-owned platforms are historically more likely to pull out of the market, according to Ascentric managing director Hugo Thorman.

Senior industry figures have backed a new consultation by the FSA into whether or not to extend a proposed fund manager rebate ban to life insurance products.

Advisers have reported newspaper adverts for Ivan Massow's commission rebate business as misleading to the Financial Services Authority (FSA).

A ban on fund manager rebates to SIPPs would make sense if a similar ban is applied to platforms, SIPP providers have said.

Ivan Massow, the entrepreneur who once ran the UK's 10th largest advice firm, is mounting a direct challenge to IFAs with a new online service to help consumers slash ongoing commission they pay for advice they no longer receive.

The Treasury has said there is no conflict between the Markets in Financial Instruments Directive (MiFID) and commission rebates, in contrast to concerns raised by the Association of Independent Financial Advisers (Aifa).