Revolut Trading, the investment arm of Revolut, has been granted permission to offer customers more complex financial instruments by the Financial Conduct Authority and is considering the launch of a private bank as it targets wealthier clients.
The digital bank has secured a Variation of Permissions from the FCA today (14 May), explaining that the regulatory "milestone" would help significantly broaden the scope of its activities and enable a more sophisticated range of products for retail investors, advanced traders and professional clients. As a result, Revolut said it would redesign its trading model to offer more competitive pricing, and a broader product suite, spanning "leveraged products, managed portfolio solutions and private wealth services". This would allow the firm to serve a wider pool of investors, it claimed...
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