FCA has confirmed it will ban platform rebates and instead will require platforms to be paid for using a platform charge, which must be disclosed to and agreed by the investor. The new rules will apply to both the advised and non-advised markets. FCA says the current system allows investors to form the impression that platform usage is free. The new rules will take effect from 6 April 2014, but platforms will have two years from then to transition over existing customers. FCA says the changes will enable investors to make fully informed choices if they wish to use platforms and help them understand the costs of doing so. (Source: FCA Finalises Platforms Rules)