The FCA has published a list of firms that have been successful in their applications to begin testing in cohort 3 of the FCA's sandbox. The FCA received 61 submissions for the third phase, of which 18 applicants met the sandbox eligibility criteria.
‘The pace and relentlessness of the changes required, exacerbated by legacy infrastructure and siloed operations, comes with a significant price tag, and is something that many wealth managers are still underequipped to deal with.
The results show that Appleby continues to hold their top tier rankings in many sectors, including the newly introduced banking, finance and capital markets sector.
Under the terms of the deal, the combined maximum purchase price is £1.1m, payable in cash over the next 26 months in four tranches, dependent upon performance criteria being met.
Brussels identifies 17 states including South Korea, Barbados, Panama and UAE with 47 others such as the Isle of Man and Bermuda warned