FCA plans to ban or cap investment platform exit fees

Financial watchdog wants clampdown as part of changes to £500bn industryBritain’s financial watchdog plans to ban or cap exit fees charged by investment platforms such as Hargreaves Lansdown and AJ Bell, as part of sweeping changes to the £500bn industry.The Financial Conduct Authority has been looking into investment platforms that offer a range of funds online and found that 7% of all consumers wanted to switch but were put off from doing so, with many citing exit fees as a s