Wrap re-registration needs clarification

Nucleus CEO believes regulator must do more to prevent platforms penalising transfers

Nucleus CEO David Ferguson has called on the FSA for more prescriptive measures on platform re-registration following the recent consultation on wraps. The paper raised ease of re-registration as a major issue for the platform community and Ferguson said this is an ongoing battle for Nucleus. The FSA said that if a platform limits the ability of users to transfer assets, providers should consider whether they are acting in the best interests of customers. According to Ferguson, Nucleus is currently exploring, from a legal angle, the issue of platform providers clinging to assets. "The re...