FCA bans cash rebates on all platforms from April 2014

clock • 1 min read

The Financial Conduct Authority (FCA) is to ban cash rebates paid to consumers from platforms from April next year.

The Financial Conduct Authority (FCA) - successor to the Financial Services Authority (FSA) - confirmed today that, as expected, cash rebates will be officially prohibited. It said in a statement: "The FCA is making changes to ensure that investors can make fully informed choices if they wish to use a platform and understand what they are paying for the service the platform provides. These changes include: · making the cost of the platform service clear to investors by ensuring that the platform service is paid for by a platform charge which is disclosed to and agreed by the investor ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Platforms

Retail access to crypto ETFs to face Consumer Duty hurdles even if 'unlikely' UK approval granted

Retail access to crypto ETFs to face Consumer Duty hurdles even if 'unlikely' UK approval granted

Platform concerns over investor protections

Valeria Martinez
clock 17 January 2024 • 3 min read
FCA raises alarm on platforms' handling of customer cash interest

FCA raises alarm on platforms' handling of customer cash interest

Cracks down on ‘double dipping’

Sahar Nazir
clock 12 December 2023 • 1 min read
LTAFs elude retail investors as platforms shun Innovative Finance ISA

LTAFs elude retail investors as platforms shun Innovative Finance ISA

Following Autumn Statement plans

Cristian Angeloni
clock 07 December 2023 • 3 min read
Trustpilot