By Stephen Mohan, Managing Director Operational Services, Cofunds
So here we are. It’s March in the countdown year to RDR implementation and the re-registration proposals in Policy Statement 12/3 could throttle the hard fought for industry momentum.
This isn’t some weasly-worded excuse for not continuing to push hard on re-registration or a badly-timed bit of scare mongering. It is a regrettable and highly frustrating statement of fact.
The proposals for platform to platform re-registration are a very real operational concern for the industry and have the potential to make life harder for end-investors just when they should be made easier. By combining the impact of PS11/9’s deferral of the rebates decision with the CP11/26 statement that re-registration is not advice within the terms of PERG, the industry – until now, moving at relatively good speed and consistency – has had to pause and change its approach.