commission rebates

Most advisers are confident their business will be prepared for the upcoming switch-off of fund-based trail commission, according to a poll which contradicts other research conducted on firms' readiness.

The 400-day problem, solved

It is "essential" clients are given prior notification when their fund holdings are converted to post-RDR 'clean' alternatives, but individual consent is not necessary, the Financial Conduct Authority (FCA) has outlined in finalised guidance on bulk transfers...

Platforms attempting to dodge the cash rebate ban by paying consumers units in a cash fund would be acting in an 'incredibly foolish' manner and going against the spirit of the rules, Fidelity has warned.

Next year will bring the realisation that super clean is not so super, predicts Fidelity FundsNetwork, with rebates trumping super clean share classes.

Wrap platform Novia has said it will no longer accept cash rebates on new or legacy business from April 2014.

HM Revenue & Customs's (HMRC's) decision to tax unit and cash rebates could violate UK case law on competition, according to a platform consultancy.

HMRC has ruled it will tax fund rebates paid to consumers from April 2013.

The European Parliament has voted against a ban on commission payments in Europe in a move placing it at odds with the FSA's stance under the incoming Retail Distribution Review (RDR).

Invesco Perpetual is to launch commission free share classes across its range by mid-2012, but will continue to pay a platform rebate.