Financial Services Authority Reveals New Regulations to Safeguard Investors
The Financial Services Authority (FSA) has published new rules on platform regulation aiming at enabling the investors with better financial advisory services. The financial regulators have adopted this measure after a review of platform regulation in the context of the objectives for their upcoming consumer protection strategy named Retail Distribution Review (RDR). The regulators have designed these new rules in order to ensure that the consumers get a better service and for making the market more transparent as well as efficient.
Moreover, these new regulations also help by extending the consumer protection elements of the RDR into investment services. As per these regulations, platforms and other companies are now required to transfer assets held on behalf of the customers to another person when requested within a reasonable time and in an efficient manner. In addition, they are also obliged to provide fund information to the investor.
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