FSA

The FSA today published its Policy Statements on platforms, with the delay in setting rules on cash rebates the surprise outcome...

Today's long-awaited FSA platforms paper addressed - if not resolved - all the key issues affecting product providers, platforms and distributors.

The Financial Services Authority (FSA) has deferred the introduction of rules requiring personal investment firms (PIFs) to hold more capital for two years to allow firms extra time to prepare.

The FSA said today it will stick to its guns and ban cash rebates, despite widespread industry opposition.

The FSA today said it wants to proceed with its plan, originally mooted in March 2010, to ban payments from fund managers to platforms.

The FSA said it will not write any additional rules for re-registration in light of the TISA project but said it could widen the scope of the re-reg requirement in the future.

The Financial Services Authority (FSA) has said it would be concerned if firms claiming to be independent made "extensive" use of a single platform, or only one which pays a rebate.

The FSA has updated its list of examples of good and bad practice by advisory firms when selecting and using platforms.

The FSA says platform charging rules will not come into force by the RDR deadline of 31 December 2012, as more research is needed before it can make the final decision on whether to ban cash rebates.

Senior financial services executives are concerned the FSA's post-crisis clampdown is harming the UK's international competitiveness, according to a poll.