Seven key points from the FCA's platform paper

The platform paper published by the Financial Conduct Authority (FCA) this week is set to change the landscape of the platform industry in the UK, but what were the main points?

The FCA released the eagerly awaited paper detailing a new set of rules for the platform industry as it adapts to the post-RDR world. The new rules will change the face of the platform and asset management industry in the UK, and have wide reaching implications for advisers and wealth managers. Below is a full list of the key points from the paper: 1. FCA sets rebate ban implementation date at April 2014 2. FCA to permit unit rebates 3. Nominal ‘de minimis' cash rebates of £1 or less 4. FCA concedes to platforms over marketing payments 5. The paper paves the way for Har...