In FSA Consultation Paper 12/12, Payments to platform service providers and cash rebates from providers to consumers, we consulted on changes to how platforms used by both advised and non-advised consumers would be paid. We also proposed preventing platforms in the non-advised market from passing on rebates to consumers in cash and sought views on a possible read-across of platform rules on payments for services to non-platforms markets.
This paper will interest:
The rules will come into effect on 6 April 2014. The rules on legacy payments will come into force two years from this date, so 6 April 2016 – by that time, firms will need to move all customers with legacy assets to the new charging structure, with an explicit charging model.
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