FCA: Acts to improve competition in the investment platforms market

0
258
FCA: Introduces new rules for P2P platforms

FCA: Acts to improve competition in the investment platforms market

  • The FCA consulting on new rules to allow consumers to switch platforms and remain in the same fund without having to sell their investments
  • Review progress made by the industry to improve the switching process later this year, and again in 2020
  • Consulting on new rules to allow consumers to switch platforms and remain in the same fund without having to sell their investments
  • FCA is not proposing new rules but will review the progress of industry in 2020/21
  • Financial Ombudsman Service will soon be able to require financial services firms to pay significantly more compensation to consumers and businesses