Commenting on the publication today (16 July) of the interim report by the FCA on their market study into the investment platforms market, Hugh Savill, Director of Regulation, Association of British Insurers, said:
“The FCA recognises that competition in the investment platform market is working well for most consumers. In this rapidly growing market, innovation is further stimulating greater choice and providing value for consumers and advisers. As the FCA points out, the Transfers and Re-registration Industry Group is working to further improve the efficiency and speed of transfers. Having co-ordinated the work undertaken by this Group, we will be engaging with the FCA to get a better understanding of their concerns, to ensure that we have a platforms market that works in the best interests of all consumers.”