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FCA warns asset managers after ‘failings’ on client money and best execution

The UK regulator is stepping up its oversight of asset managers ahead of Mifid II

FCA warns asset managers after ‘failings’ on client money and best execution

The UK's Financial Conduct Authority has warned that some fund managers could face further action after finding that they have failed to meet expectations on dealing commission expenditure and securing best execution for their clients.

New standards on best execution and the use of dealing commission paid to brokers form part of the EU's revised Markets in Financial Instruments Directive, an overhaul of trading rules designed to improve markets and make them more transparent.

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