The Big Picture: What were the biggest stories from July?

Recapping the top stories

James Baxter-Derrington
clock • 1 min read

The US has entered a technical recession, the Financial Conduct Authority has unveiled its Consumer Duty Rules and investors looking for sustainable products continue to back the darkest green funds.

US GDP fell for the second quarter in a row, contracting 0.9%. However, a recession is not declared in the US until the National Bureau of Economic Research announces one, utilising a range of factors including GDP, income and employment, although it does not publish any official guidance as to how this decision is reached.

In the UK, the FCA's Consumer Duty rules will  see investment platforms become gatekeepers, with the companies required to take action if the funds offered on its platform are of "poor value" to consumers.

And year-to-date, only Article 9 funds have recorded positive net flows, while Article 8 funds and the wider market have entered the red.

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