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New platform paper this month as FSA warns on corporate wrap

The FSA has confirmed its intention to publish another platform consultation paper by the end of the month setting out its final views on rebates.

The regulator published a policy statement in August in which it said it would be “desirable” to ban both cash rebates from product providers to investors and product provider payments to platforms, for both advised and execution-only platforms. However, it wanted to conduct further research into the implications of the rules before they were finalised.

In its Retail Conduct Risk Outlook published today the regulator says: “When we have considered the finding from the research we plan to publish a consultation paper by the end of March 2012 setting out our proposals.”

The Outlook also refers to the emergence of the corporate wrap market, warning providers of such platforms should be aware of the potential of consumers becoming less engaged with their investment options and paying for services they do not need.

It says: “Providers of corporate wraps need to consider the particular information needs of their target market.”

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