Regulator bans brokers taking payment for routing orders to market-makers
The Financial Conduct Authority has said that it will take
action against any firms that continue to receive payment for
order flow from retail and professional clients,
as first reported in FOW.
In a long awaited Thematic Review published this morning,
the FCA has heavily criticised firms for inadequate best
execution requirements and thrown out arguments from FIA Europe
and the Wholesale Markets Brokers Association in defence of
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