News

Today's confirmation that cash rebates will be banned is a 'blow' to wrap platforms and presents a 'significant challenge' to their business models, fund supermarket Skandia has said.

The Pensions Management Institute (PMI) has launched an Retail Distribution Review (RDR) compliant pensions diploma for advisers wanting to boost their knowledge of the corporate pensions sector.

Tidjane Thiam has been named as the next chairman of the Association of British Insurers (ABI).

Hargreaves Lansdown is confident its business model has the flexibility to cope with the ban on platform rebates proposed today by the Financial Services Authority (FSA).

The unbundling of platform charges will result in greater price competition between fund providers, the Financial Services Authority (FSA) said today.

Guardian Financial Services is to acquire 300,000 in-payment annuities from pension fund consolidator The Phoenix Group.

The Financial Services Authority (FSA) has suggested it will not read across its proposed ban on platform rebates to life companies, but has promised to explore the issue further.

The ban on rebates from fund managers to platform providers is to cost platform operators up to £10m a year, the FSA has estimated.

The FSA has decided to apply its ban on platform rebates to execution-only propositions.

The Financial Services Authority (FSA) has this morning confirmed its intention to ban both payments from providers to platforms and cash rebates to consumers.