The FSA’s Proposed New Rules on Platforms

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Platforms are internet-based services used by intermediaries (for example, investment advisers) as ‘access points’ to view and administer investments. They allow advisers to analyse a client’s portfolio and choose products for their clients.

Introduction

The Financial Services Authority’s (the “FSA”) recent policy statement (PS 11/9) on platforms, Delivering the RDR and other issues for platforms and nominee related services, introduced several changes to the current rules on the use of platforms in an attempt to make markets more transparent for consumers and to provide a better service for the end investor. In particular, the FSA was concerned that the way fund platforms are currently paid may be detrimental to investors because:

- investors do not know how much a platform is being paid to sell different funds; and...

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Published In: Administrative Agency Updates, Consumer Protection Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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