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Loyalty bonus no longer paid as cash
joerugby
Posts: 1,180 Forumite
I understand that one of the results of the RDR was that loyalty bonuses / rebates on recently purchased funds can no longer be paid in cash.
Can anyone explain to me the rationale for this ruling?
Can anyone explain to me the rationale for this ruling?
0
Comments
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this was part of the move to explicit charging for platforms. the idea was that cash rebates might be used to disguise the cost of the platform charge.
more detail, in case you're having trouble getting to sleep: https://www.fca.org.uk/publication/policy/ps13-1.pdf0 -
Many thanks for this, much appreciated
I managed to stay awake long enough to read the relevant bits!0
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