FCA Launches Probe Into £592B UK Online Investment Market
Law360, London (July 17, 2017, 12:42 PM BST) -- The Financial Conduct Authority is to investigate Britain’s £592 billion ($774 billion) market in investment platforms after it found a lack of competition and poor value for money in the country’s asset management sector.
The regulator says it will look at how platforms and similar online services provided by banks, insurance companies and fund managers compete. (AP)
Britain’s financial watchdog on Monday set out the framework for its review —– flagged in its recent asset management market study — into the use of online platforms, known as fund supermarkets, to sell investments to consumers.
The FCA said it will look at...
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