FCA consolidation review 'a warning shot' for acquirers

In review findings published on Friday (31 October), the regulator assessed how advice and wealth management groups handle risks, governance, debt, and integration during and after acquisitions. It said consolidation can deliver efficiencies and sustainable growth when well executed but warned that weak governance and poor oversight could expose firms and consumers to risks. "Consolidation can support efficiency and sustainable growth. But, if not effectively managed, consolidation could lead to poor outcomes for consumers, employees and the wider financial system," the watchdog said. ...