The Financial Conduct Authority (FCA) spoke to seven investment platforms about re-platforming projects in the final few months of 2016, a Freedom of Information request from Professional Adviser has revealed.
The regulator confirmed it had undertaken a series of discussions with seven investment platforms about re-platforming projects relating to major technical changes or a switch of technology provider. In addition, the FCA confirmed it had also spoken to five platforms about the bulk transfer of clients as a result of either a platform upgrade or a change of technology. The watchdog is currently undertaking a wide-ranging review of the platform market. The regulator would not disclose the names any of the platforms that were involved in its re-platforming discussions. It also confirmed...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
