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Major platforms sign up to offer re-registration

Members of the UK Platform Group have agreed to move forward with plans to allow re-registration.

The group includes Skandia, Cofunds, Standard Life and Fidelity Fundsnetwork. Last month, Skandia back-tracked on its initial plans to offer clients the option to re-reg off its platform.

But speaking at the TISA platform to platform re-registration open meeting in London today, Cofunds managing director Stephen Mohan revealed that the chief executive committee of the UK Platform Group had agreed a way forward to allow re-registration off platforms.

Mohan said: “We have initiated a review of how we can deliver platform to platform re-registration. This review does not just involve platforms but key providers and fund management software firms, like International Financial Data Services, Mutual Fund Technology and Bravura. We met last night and have agreed a way forward.”

The group is set to provide more details on the agreement tomorrow.

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