October 19, 2021

Volume XI, Number 292

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October 18, 2021

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FCA Writes to CEOS on PFOF

FCA has written a Dear CEO letter, expressing its concerns on the continued practice of “payment for order flow”. Despite FCA having criticised the practice in the past, it is aware that many brokers are still doing it, and are devising strategies to get round the even stricter MiFID 2 restrictions. FCA warns firms that it will look hard at these arrangements and encourages market makers approached by firms with proposals that look to circumvent the requirements to tell FCA of the attempt.

Copyright © 2021 Womble Bond Dickinson (US) LLP All Rights Reserved.National Law Review, Volume VII, Number 347
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About this Author

Andrew Barber, Partner, Womble
Partner

Andrew is a partner that leads the financial services team in Womble Bond Dickinson's banking and financial services team. He specialises in financial services regulation with a the largest portion of his practice focusing on retail banking and consumer finance matters.

+44 (0)207 788 2334
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