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 ...
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