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Platform flows have plunged amid a third-quarter meltdown as the cost of living crisis, rampant inflation, the uncertain economic outlook and political instability together negatively impacted investor confidence, research from Fundscape has shown.
Good morning and welcome to your Morning Briefing for Thursday 10 November 2022. To get this in your inbox every morning click here. Harriet Baldwin The deputy speaker has announced that MP Harriet Baldwin has been elected chair of the Treasury Select Committee. She replaces Mel Stride, who stepped down when he
Platform net sales fell to its lowest level in over a decade as the sector reacts to the fallout of the mini-Budget in September. Net sales for the period were just £4.4bn while gross sales fell to £26bn, according to the latest Fundscape platform report.
Financial services firms are “well placed” to live up to the “step up in standards” brought about by the Consumer Duty rules but forward implementation planning is essential.
The Financial Conduct Authority has said it will look at the competition effects of Big Tech on the financial services sector.