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The British Financial Conduct Authority (FCA) announced today it is planning to implement new measures to protect consumers in the investment platform market. The measures are a result of the regulator’s interim report on the industry, which identified concerns regarding how investment platforms compete for five groups of consumers.
The watchdog’s proposal includes remedies to help strengthen the extent to which platforms can drive competition between asset managers and measures to increase the ease in which investors and advisers can switch between platforms. Furthermore, the changes aim to tackle price discrimination between orphan and existing clients as well as ... (read more)