The Financial Conduct Authority (FCA) is seeking feedback and considering undertaking further work on seven remedies intended to improve competition in the investment platform market.
The interim report of the financial watchdog's Investment Platforms Market Study identified a number of issues. Most notably, it argued competition in the market was not working as well as it should for some consumers - although it did find it to be working well for most. The FCA said it was particularly concerned about some consumers - namely, those who want to switch but find it costly to do so; direct to consumer (D2C) platform users who want to choose a platform based on price; D2C platform clients who use model portfolios; those with large cash balances; and "orphan" clients, that i...
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