FCA best execution review puts 40 firms under spotlight

Results to be published by end of second quarter

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Up to 40 firms, including some retail foreign exchange brokers, are under investigation in the UK Financial Conduct Authority's (FCA) thematic review into best execution practices across a variety of different markets.

FXCM, which was fined for not passing on price improvements from slippage to clients, is not alone in this camp, according to Lorraine Bay, partner at financial consulting firm Moore Stephens in London.

"The mere fact the FCA is doing a thematic review means a number of other

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