Cash rebate ban 'done deal' as FSA draws up final rules

The FSA has already decided final rules governing platforms ahead of publication of its policy paper in July and will "not budge" on the proposal to ban cash rebates.

It is understood the regulator will publish its long-awaited policy paper on 28 July when it will announce a ban on cash rebates after a successful lobbying effort by the ABI. "We are led to believe we will see the platform paper at the back-end of July, subject to approval by the FSA's board," said Fidelity FundsNetwork's head of fund partners Ed Dymott (pictured). Earlier this month, IFAonline revealed the regulator was pushing back publication of the policy paper from Q2 to Q3 as it struggled to formulate final rules. But it seems the watchdog has since decided upon most aspects...