Standard Life: Preferential share classes will not breach competition laws

Standard Life has rejected suggestions the use of preferentially-priced share classes launched by fund groups for specific platforms could breach competition laws.

Following HMRC's decision to impose tax on rebates, a number of platforms are pushing for preferentially-priced share classes in order to preserve deals struck with fund groups. Law firms are understood to have been investigating whether fund groups and platforms would be breaking competition rules by offering lower-priced share classes to selected platforms. However, Standard Life has moved to quash such fears, revealing it has held talks with legal experts who do not expect any competition issues to affect preferential clean share classes. Graham Dow (pictured), head of investmen...