The Financial Conduct Authority (FCA) will use the data it collects in the retail investment space, including from advisers, to see whether its new information-gathering strategy is working.
In a paper detailing how the regulator plans to manage and use the data it collects from firms, it said it will look to its work in the retail investment market as a "proof of concept". The FCA, previously the Financial Services Authority, has made a number of changes to the way it collects data from firms, including to the Retail Mediation Activities Return (RMAR) to take account of the Retail Distribution Review. But it has been criticised for being vague on how it uses the information it collects. In today's paper, the FCA admitted its predecessor "did not always request data and i...
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