Regulation

FCA finds governance issues in review of banks’ trading practices

Regulator flags limited information sharing after assessing the way eight big banks handle trades for their clients

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The FCA has examined the way eight big banks handle trades on behalf of their clients Photo: AFP via Getty Images

The City regulator has warned of shortcomings in how large banks execute trades on behalf of clients, including limited information sharing with senior managers.

Following a review of UK-listed cash equity trading at eight wholesale banks, the Financial Conduct Authority cited “governance and oversight” as the areas where banks had made the least progress since it last examined so-called best execution practices in 2014.

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