FSA hires Deloitte to probe platforms on rebates

The FSA has deployed the services of Big Four accountancy firm Deloitte to quiz platforms about its proposed ban on fund manager and cash rebates.

In its August policy paper, the regulator set out its intention to ban both forms of rebates but delayed a final decision pending further research. As part of that research, the regulator has hired consultancy firm Deloitte to gauge the views of platform operators. The revelation has raised further concerns over the cost of the FSA's ongoing research into platform remuneration. It is understood Deloitte staff have recently had meetings with senior management from major platforms to ask for their views on its proposed rebate ban. "It was slightly odd it was people from Deloitte t...