The FCA's questions to investment platforms on their cash margins

Platforms must respond to the FCA’s letter by 27 July

Sahar Nazir
clock • 3 min read

The Financial Conduct Authority (FCA) has asked investment platforms in the UK how much interest they are making through cash and bank deposits they pass on to customers.

The regulator is looking to understand how interest on customers' cash is treated in the investment platform market and how platforms have considered their approach in view of Consumer Duty. Self-invested personal pensions (SIPP) providers have also been asked the same questions. The FCA has confirmed to Professional Adviser that is asked how much interest platforms are getting from their banking partners, what rate is being paid to clients, and how much platforms are making from this interest. Around 30 platforms have been given a deadline of 27 July to respond to the FCA's letter...

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