Anti-Brexit campaigner Gina Miller is planning to sue the Financial Conduct Authority (FCA) over its approach to MiFID II, claiming the regulator is not taking a firm enough approach to ensuring asset managers comply with the new rules, according to Financial News.
Miller claims the FCA is creating an "anti-competitive market" by allowing some of the largest asset managers to get away with non-compliance with the new rules, which came into force on 3 January. Speaking to Financial News, Miller said that the FCA's approach to MiFID II was penalising compliant firms and allowing others to continue breaking the rules. The FCA said in September 2017 it would not immediately fine firms failing to meet the new requirements, on the condition they had "taken sufficient steps to meet the new obligations". Over a third of financial services companies a...
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