The FCA has published a web page concerning the results of its thematic review of how firms are preparing for the implementation of the new platforms rules that come into force in April 2014.
The FCA has published a short video concerning its findings and has posted the presentation slides that it used.
Overall, the FCA found that platforms appeared to be well prepared for the introduction of the new rules. It also notes that an area where it receives a lot of questions is rebates. On its website, the FCA states that rebates can only be in the form of units other than in some very specific circumstances. For example, the FCA has allowed a very small amount of cash rebates to continue (a maximum of £1 per month per fund) to aid platforms with ad-hoc and small administrative issues.
View Review of implementation of platform rules, 3 March 2014