Mike Barrett: Groundhog Day - only more platforms, fewer rodents

Another day, another Financial Conduct Authority (FCA) paper - this time the snappily titled Investment Platforms Market Study Terms of Reference (MS17/1.1 to its mates). We had heard talk of a deluge of regulation arriving once the FCA emerged from purdah and, since 21 June when the DB transfer consultation was published, we have now been treated to almost 500 pages of reports covering pensions, asset management, MiFID and now platforms. By the time you add in the supporting documents, that is almost 2,000 pages to wade through. I wonder why the industry finds it hard to innovate … ...