FCA reveals scope of platforms competition study

Interim report due by summer 2018

The Financial Conduct Authority(FCA) has today unveiled the key areas of focus for its Investment Platforms Market Study, with an interim report due by summer 2018.

In its Investment Platforms Market Study Terms of Reference (MS17/1.1), the FCA said the platform market, which has grown from £108bn in 2008 to £500bn in 2016, was becoming "increasingly vertically integrated", with commercial relationships existing between platforms, asset managers, discretionary investment managers and financial advisers. It noted: "These relationships have the potential to distort competition by encouraging platforms to compete in the interests of those with which they have commercial relationships rather than in the interests of the consumer. "Through the market ...