Platforms

Skandia has expressed fresh doubts about negotiating preferential share classes with fund managers, instead focusing on launching unbundled share classes that will continue to pay rebates.

Hargreaves Lansdown is planning to launch a rebate-free charging model at the start of next year following the latest platform paper from the regulator.

Stephen Mohan, former Cofunds managing director of operational services, has moved to Allfunds Bank to spearhead its growth plans in UK and Ireland.

GOSLING'S GROUSE

Cofunds' Stephen Mohan is leaving the business after a seven-year spell, the platform said today.

Standard Life has said platform providers are unlikely to enter into any price war on the overall cost to the end client as a result of today's platform paper.

The Financial Conduct Authority's decision to ban rebates on legacy business from April 2016 is set to be a painful one for the industry, according to Cofunds.

The Financial Conduct Authority (FCA) has cautioned platforms against maximising legacy commission by waiting until the April 2016 deadline.

The Financial Conduct Authority (FCA) has confirmed execution-only platforms will be caught up by its cash rebate ban and has blamed a "typographical error" for earlier confusion.

The Financial Conduct Authority is to ban firms with platform and fund management arms effectively giving away platform services for free, in return for investment into its in-house funds.