“Unlike furniture removals, the challenge is not in the physical movement of items but in identifying which items need to be moved in the first place”
On 1st February the latest piece of the electronic transfers jigsaw puzzle fell into place with the introduction of new rules requiring automatic share class conversions between platforms. This was part of a broader FCA initiative on “Making Transfers Simpler” which culminated in PS19/29 just over one year ago. The regulator’s recent focus on transfers should come as no surprise given that promoting competition is one the three core FCA objectives. Making it easier for consumers to move between suppliers is an obvious way of demonstrating the presence of substitute products in a healthy competitive market.
