British regulator to rule following two-year probe into payment for orders
Britain's Financial Conduct Authority is set to crackdown on
the practice of Payment for Order Flow in a damning ruling this
month that will significantly cut a lucrative revenue
source for many brokers.
The Financial Services Authority, the forerunner to the FCA,
issued in 2012 guidance on the practice and said it believed
PFOF arrangements created a clear conflict of interest between
the clients of the firm and the firm itself.
Two years later, Britain's regulator is set to take
action by drawing up tough rules that could effectively ban
PFOF for dealing with many clients, sources have told FOW.
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