In December, the FCA brought out its findings on best execution in UK-listed cash equities in relation to wholesale banks. In recent months, we have become used to these multi-firm reviews that conceal considerable informal guidance that the FCA is indicating good or bad practice. So, in that context, I
OPINION: FCA’s best execution review for UK equity markets
Jonathan Herbst reveals hidden themes and governance challenges in the FCA’s review, including the level of effort that the regulator is expecting firms to make.