Cofunds urges 'united action' as FSA platform response delayed

Cofunds believes there is still time to influence the FSA and prevent a proposed ban on fund manager rebates and bundled charges as the regulator's response to the discussion paper is set to be delayed until September.

In a White Paper response to the FSA's proposed platform reforms, Cofunds CEO Brett Williams says the platform has outlined its concerns the plans will lead to higher costs and bring significant confusion to advisers as well as end clients. Williams believes the industry's initial responses to the discussion paper was "uncoordinated and disunited" and the platform wants to keep the debate open to ensure the key issues are not forgotten. He says this is increasingly important as the regulator has now indicated its response will come in September, not during the summer as previously ind...