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FSA platform paper to be published in second quarter of 2013
by Jun Merrett on Feb 21, 2013 at 07:51
The FSA has confirmed that it will issue its platform policy statement in the second quarter this year.
This means the paper will fall under the upcoming Financial Conduct Authority's (FCA) regime.
In December 2012 the regulator extended the deadline to publish its final platform rules from the end of 2012.
At the time the FSA said this was so it could consider the tax implications of its proposed changes. In January the HM Revenues & Customs announced it was looking into whether to tax both platform unit and cash rebates to investors.
An FSA spokeswoman said: 'The policy statement will be an FCA paper and will be released in a few months' time, depending on it first being approved by the board.'
In December 2012, the FSA said it would give platforms 12 months to implement the changes resulting from the platform paper after worries that the delay of the policy statement would give platforms less time to work on necessary changes.
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