View more on these topics

FSA team wants platform delay

The FSA’s investment policy team is recommending the FSA board delays the implementation of client reporting requirements for platforms until the end of 2013.

In its August policy statement, the regulator stipulated that from January 1, 2013, platforms will be required to provide advised and non-advised investors with the information and notifications they receive from fund managers and depositories about any changes to their investments.

Under the rules, the information can be sent electronically but where that is not possible, it must be sent by post. Clients will not be allowed to opt out.

But the regulator’s policy team will recommend at the FSA’s June board meeting that the implementation is delayed for 12 months after receiving substantial queries from the industry.
In April, Money Marketing revealed that Cofunds, Ascentric, Transact and 7IM had raised concerns over the proposals.

An FSA spokeswoman says: “We can confirm the policy team is making the recommendation to the board. We are looking at this issue and we will announce the results in due course.”

Seven Investment Management marketing director Justin Urquhart Stewart says: “It seems like the implementation of platform rules is going to come as a second wave of the RDR.

“By delaying things like this, the regulator is making it more and more difficult to run an effective platform.”

Pilot Financial Planning director Ian Thomas says: “This is a good move as it will give platforms a bit more breathing space. Obviously, clients should be able to receive this information if they want it but to place the burden fully on platforms to carry it out seems a bit unfair.”


NLA calls for greater innovation in B2L market

Research from the National Landlords Association has shown that 74 per cent of landlords agree that the buy-to-let market needs greater innovation. While an overwhelming proportion, 89 per cent, also believe it would benefit from more lenders or greater competition. However, although many landlords were dissatisfied with the current range of buy-to-let products on the […]

Investec unveils RDR share classes

Investec Asset Management has unveiled new share classes for its UK-domiciled Oeic fund range ahead of the retail distribution review. The company has made a share class with a 0.75 per cent annual management charge available to fund platforms and advisers. The new share class is available on the group’s risk-rated Managed Solutions Range and […]


Billy Burrows: Fixed-term annuities are not annuities

The front page of Money Marketing last week led with the story ”L&G warns FSA over possible fixed-term annuity misselling”. The General doesn’t like them but Snoopy does may be an over simplification of the excellent online comments but it shows that views on fixed term are polarised.  The first point to make is that […]

Guide cover

Guide: how to… communicate with your pension members

Effective communication of your pension scheme is a large part of getting auto-enrolment right. Delivering the same message to all employees is not necessarily the way to go. To assist you with the communication of your pension scheme, we have provided some key areas to think about, such as:

  • What to consider when segmenting your workforce
  • How to communicate to pension scheme members at the right time in their member lifecycle
  • What topics you should be discussing with your pension members
  • The new pension freedoms and the importance of communicating them


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Pointless, pointless, pointless!!!

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm