FCA papers on investment platforms market study remedies

On 14 March 2019, the FCA issued its investment platforms market study final report and an accompanying Consultation Paper (Consultation Paper 19/12: Consultation on investment platforms market study remedies (CP19/12)). The FCA launched its market study to explore whether consumers can make informed decisions about the choice of platform, the investments they choose on it and whether firms compete to add value for consumers. Platforms have the potential to use their scale to improve competition between fund managers. The FCA wanted to further explore the impact that platforms have on the charges investors pay and any factors which may hinder platforms’ incentives and ability to negotiate on behalf of their consumers. Overall, the FCA found that the market is working well in many ways for both advised and non-advised consumers. Profitability in this sector does not appear to be excessively high. The FCA found that consumers who pay more typically get access to a greater…

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