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...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Investors split over Trump presidency win amid potential increase in inflationary risks

Investors split over Trump presidency win amid potential increase in inflationary risks

US government bonds at risk

Sorin-Andrei Dojan
clock 06 November 2024 • 4 min read
Donald Trump wins US presidential election

Donald Trump wins US presidential election

47th US president

Sorin-Andrei Dojan
clock 06 November 2024 • 2 min read
Celebrating female talent in finance: Tips for success in the Women in Financial Advice Awards

Celebrating female talent in finance: Tips for success in the Women in Financial Advice Awards

'The outstanding entries for WIFA 2024 made judging a challenging task'

Gillian Hepburn
clock 06 November 2024 • 3 min read