FCA imposes restrictions on SEI's UK platform business

SEI Investments can no longer enter into any significant new agreements involving regulated activities with institutional clients as of 26 February 2025, without gaining the watchdog's permission. Additionally, the platform technology provider and custodian is now restricted from introducing new products, propositions, or services without explicit written approval from the regulator. The regulator stated: "These requirements will remain in effect unless and until they are varied or revoked by the Authority, either at SEI's request or on the Authority's own initiative, once the firm ha...