FSA presses platforms to explain their value

The FSA's understanding of the platform industry has again been called into question after it sent an "odd" questionnaire to operators quizzing them on their relationship with fund managers.

The questionnaire asked platform providers about the value they provide to the fund management community. It is part of the regulator's ongoing research on platform remuneration ahead of a likely ban on both fund manager and cash rebates.  One industry figure said the questionnaire was "odd" and "confusing" and highlighted the watchdog's thin understanding of platform-related issues. "The underlying issue is the FSA does not fully understanding what is going on," said the insider. "We thought the question about what value platforms add to fund managers was particularly odd. We a...