Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Barclays    BARC   GB0031348658

BARCLAYS (BARC)
Mes dernières consult.
Most popular
Delayed Quote. Delayed  - 08/18 05:35:08 pm
195.65 GBp   -0.81%
08/18 BARCLAYS : Form 8.3 - IMAGINATION TECHNOLOGIES GROUP PLC
08/18 BARCLAYS : Form 8.3 - MONITISE PLC
08/18 BARCLAYS : Form 8.3 - BERENDSEN PLC
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

FCA to probe online retail funds 'supermarkets'

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/17/2017 | 11:29am CEST
FILE PHOTO - The logo of the new Financial Conduct Authority is seen at the agency's headquarters in the Canary Wharf business district of London

Britain's markets watchdog will study whether online funds platforms that dominate the retail investment market are doing all they can to offer customers a good deal.

The Financial Conduct Authority (FCA) said it will look at how platforms and similar services offered by banks, insurance companies, financial advisers and asset managers compete, and whether they use their bargaining power from pooling money to benefit investors.

"Platforms have the potential to generate significant benefits for consumers and we want to ensure consumers are receiving these benefits in practice," Christopher Woolard, FCA executive director for strategy and competition, said in a statement on Monday.

The watchdog said six of the 10 largest operators were "vertically integrated" or tied to an asset manager, and such commercial ties have the potential to "distort" competition.

The plaforms sector has around 692 billion pounds under management, the FSA says, equivalent to around 78 percent of the retail investment market. The watchdog said its study will look at platforms that do and do not offer advice on investments.

Paul McGinnis, analyst at financial group Shore Capital, said he did not see anything surprising in the terms of the study, and early share price reaction among the leading listed platform providers was muted.

The study is part of a wider "value for money" push in the funds sector and was flagged in its broader market study of the asset management sector in June.

The FCA said Cofunds, Funds Network, Standard Life (>> Standard Life) and Old Mutual (>> Old Mutual) were the largest among "advised" platforms. Hargreaves Lansdown (>> Hargreaves Lansdown), Barclays Stockbrokers (>> Barclays), TD Direct Investing and Fidelity Personal Investing led the "non-advised" pack.

"We will assess whether investors and advisers can assess the value for money of investment propositions, including investment products and platform services, from the information platforms make available," the FCA said.

It will also look if there are barriers for new entrants into the sector, and what are the main drivers of profitability,

It aims to publish an interim report by summer 2018 which will set out preliminary conclusions and any potential "remedies" or actions to address concerns.

The FCA could introduce new rules, publish guidance for the sector, force individual firms to change their behaviour, and take enforcement action.

Shore Capital's McGinnis said he did not expect Hargreaves Lansdown, the sector's largest direct to client platform, to be hit hard by the review.

Hargreaves was "very explicit in the way in which it negotiates and passes though discounts from fund managers to its customers", he said in a note, flagging a 'buy' rating and 1,279 pence price target.

Bernstein analyst Edward Houghton added that wealth manager St James's Place "did not look particularly exposed, as the firm does not have a non-advised offering and makes asset allocation and manager selection decisions on behalf of clients".

At 0757 GMT, shares in Hargeaves Lansdown were up 0.4 percent, in line with the FTSE 100 <.FTSE> index of leading shares, while shares in St James's Place were up 0.9 percent.

(Editing by Jason Neely and John Stonestreet)

By Huw Jones and Simon Jessop

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BARCLAYS
08/18 BARCLAYS : Form 8.3 - IMAGINATION TECHNOLOGIES GROUP PLC
08/18 BARCLAYS : Form 8.3 - MONITISE PLC
08/18 BARCLAYS : Form 8.3 - BERENDSEN PLC
08/18 IN THE WORLD : Supporting Survivors of the Japanese Earthquake
08/18 BARCLAYS : Form 8 (DD) - TESCO PLC
08/18 BARCLAYS : Form 8.5 (EPT/NON-RI) - JOHN WOOD GROUP PLC
08/18 BARCLAYS : Form 8.5 (EPT/NON-RI) - SKY PLC
08/18 BARCLAYS : Form 8.5 (EPT/NON-RI) - TESCO
08/18 BARCLAYS : Form 8.5 (EPT/NON-RI) - WORLDPAY GROUP PLC
08/18 BARCLAYS : Form 8.5 (EPT/NON-RI) - REVOLUTION BARS GROUP PLC
More news
News from SeekingAlpha
08/18 Barclays looks to "hot desking" to cut costs
08/08 Barclays goes ex-dividend tomorrow
08/08 WALL STREET BREAKFAST : Futures Flat With Stocks At Highs
07/28 Barclays PLC's (BCS) CEO Jes Staley on Q2 2017 Results - Earnings Call Transc..
07/28 WALL STREET BREAKFAST : Markets Await U.S. GDP Report
Financials ( GBP)
Sales 2017 21 839 M
EBIT 2017 6 817 M
Net income 2017 474 M
Debt 2017 -
Yield 2017 1,59%
P/E ratio 2017 34,90
P/E ratio 2018 11,27
Capi. / Sales 2017 1,54x
Capi. / Sales 2018 1,49x
Capitalization 33 667 M
Chart BARCLAYS
Duration : Period :
Barclays Technical Analysis Chart | BARC | GB0031348658 | 4-Traders
Technical analysis trends BARCLAYS
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Average target price 2,23  GBP
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
James Edward Staley Chief Executive Officer & Director
John McFarlane Non-Executive Chairman
Paul H. Compton Group Chief Operating Officer
Tushar Morzaria Group Finance Director & Executive Director
Reuben Jeffery Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
BARCLAYS-11.73%43 408
JPMORGAN CHASE & CO.0.00%318 994
INDUSTRIAL AND COMMRCL BANK OF CHINA LTD27.66%289 236
WELLS FARGO-6.01%257 132
BANK OF AMERICA6.97%232 868
CHINA CONSTRUCTION BANK CORPORATION24.26%229 117