The British regulator offers supervisory flexibility over best execution until the end of June
The Financial Conduct Authority (FCA) has agreed to offer supervisory flexibility to traders and investment managers over their best execution requirements during the current coronavirus crisis, according to a statement made by Christopher Woodward, interim CEO of FCA.
He said that the UK regulator would not take any enforcement action against firms that do not publish the next reports as required on 1 April, as long as they do so no later than June 30.
Nevertheless, traders are expected to continue to take into account current market conditions when determining the relative importance they place on the different execution factors when meeting their obligations, as well as the venues or brokers they rely upon to achieve best execution.
“We would expect firms to consider their use of different types of orders to execute client order and manage risk during market volatility”, Woodward says.
An article by financemagnates.com