Tisa had claimed that its members need an additional 12 months to comply with the new regulations introduced by the retail distribution review (RDR).
Further, FT Adviser also stated that many of the country’s largest platforms are happy with the current deadline for RDR compliance set by the Financial Services Authority (FSA) for 31 December 2013.
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Meanwhile, Tisa has stated some of its members to have raised concerns about the length of time it will take them to update their systems so they can facilitate RDR-style rebates from funds.
After the RDR, these rebates will consist of fund units, rather than cash.
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