The Financial Services Authority (FSA) has begun informal discussions with key industry players about a potential ban on all fund commission payments from the start of 2014 for business written on platforms.
Investment Week can reveal the regulator is considering setting a deadline date for a complete ban on fund commission rebates paid to advisers from platforms from 1 January 2014, including legacy arrangements. If introduced, such a move would effectively end trail commission paid to advisers on funds they recommended to clients pre-RDR. It is understood the regulator has begun informal consultations with the industry and may reveal the proposals in its final platform paper. It is looking at insisting platforms move legacy money in investment funds over to new pricing models by that...
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