The FSA is to contact consumers who have assets held on platforms to gauge their knowledge of platform functions as part of its research into whether or not to press ahead with its proposed ban on payments and rebates.
Money Marketing understands the regulator has asked platforms to source clients as part of further research into the possible effects of its proposed ban on payments between fund managers and platforms and cash rebates to investors. The research will begin in early October.
The FSA published its platform policy statement in August, saying it would be “desirable” to ban both cash rebates from product providers to investors and product provider payments to platforms. But it said it wanted to conduct further research into the implications of the rules before they were finalised.
An FSA spokeswoman says: “In order to inform our decision on the appropriate timescale for making any rules, we plan to carry out further work, including careful consideration of the impact on consumers, business model analysis of the platforms market and research into the way consumers engage with this market.”