The FCA has written to a number of platforms asking for feedback on the data it is looking to collect as part of its market study, Fund Strategy sister publication Money Marketing understands.
It is understood the correspondence is not a formal data request but is asking for responses on whether firms can supply the data the regulator is asking for, and how the questions should be framed.
One market source calls the questionnaire “thorough”.
It is understood the regulator is interested in operational information, such as which funds and tax wrappers are commonly used, as well as information about business plans and strategies.
The FCA released the terms of reference for the platform market study in July. It will be investigating how platforms compete and if they use their bargaining power to get investors a good deal.
The FCA says in its business plan the study is expected to complete in 2018/19.