UK regulator probing online investment systems

Economy 7/17/2017, 9:18 AM
UK regulator probing online investment systems

The Financial Conduct Authority (FCA) said on Monday that its upcoming study will cover platforms in a sector with assets under administration that have grown almost fivefold in eight years through 2016, to £500 billion. The agency aims to determine whether operators of online systems for trading in funds "use their bargaining powers to get investors a good deal" and how they compete.

The British regulators will look at a broad selection of platforms and providers of retail products in the sector and check if they work in the interests of clients in the interactions with advisers, asset managers and rating firms, the statement adds. "Platforms have the potential to generate significant benefits for consumers and we want to ensure consumers are receiving these benefits in practice," said Christopher Woolard, executive director of strategy and competition at the FCA.

TeleTrader Newsroom / IT

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