The Financial Conduct Authority (FCA) has launched a review of the execution-only market, examining all aspects of the industry including looking at buy lists for the first time.
Investment Week can reveal the regulator – which has previously raised concerns about some practices in the execution-only market, particularly around the retention of legacy commission – is now carrying out a closer inspection of the marketplace. The FCA is understood to be looking at a broad range of execution-only businesses following the rapid growth of the non-advised sector. Its work is currently in the early stages but may turn into a full thematic review depending on the initial findings. The regulator is expected to look into fund buy lists, a large part of many execution-...
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