FCA slams automated investment providers

The watchdog's multi-firm review found issues in the market relating to service disclosures, suitability assessments, ongoing client relationships, vulnerable customers and overall governance. "We expect automated investment services to meet the same regulatory standards as traditional discretionary or advisory services," the FCA said. "This means taking a proportionate approach to information gathering while maintaining the appropriate level of client protection." The issues Outlining the failures of market participants, the FCA said it found examples of auto advice services under...