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RDR CP: FSA to review platforms and their charges

The FSA is to undertake a supervisory review and consideration of platforms and their charging structures.

The FSA’s latest consultation paper for the retail distribution review did not consult on rules relating to wrap platforms and fund supermarkets but announced that it would consider how it might introduce platforms into its handbook.

The regulator acknowledges that proposals in the latest paper may encourage, or accelerate, changes in the different roles that platforms perform.

It says: “Our disclosure regime consists largely of requirements for adviser firms and for product providers and, in line with our commitment in FS08/1, we are also keen to improve the quality and effectiveness of platform disclosure documents as charging structures and lines of payment can be complex.”

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