FSA pressured to update platform regulations

UK Platform Group urges regulator to update regulations in light of growing wrap and supermarket presence

The UK Platform Group is lobbying the FSA to update regulations to suit the type of service a platform offers while making sure the ben-efits to the customer remain priority. Platforms and the Regulatory Environment is a discussion paper compiled by the UK Platform Group, which was formed by several players in the sector. The document outlines the group's proposals for regulatory reforms as the committee feels FSA rules were not written with platforms in mind. It particularly focuses on charges and commission disclosure and whether an adviser can be classed as independent if he or she pu...