FCA stops consultation on platform exit fees

The regulator said it had intended for the consultation to continue in Spring 2021 as the original start date of July 2020 was delayed due to the coronavirus pandemic. However, in an update published today, the FCA said it had now decided to stop work on consulting platform exit fees. "Since expressing our concerns in the 2018 Interim Report, there has been a marked shift in the market from exit fees, with at least two major platforms announcing that they would no longer be charging exit fees. "The FCA welcomes the direction of travel by the investment platforms sector in phasing out ...