FCA extends 10% drop rule suspension for additional six months

The UK regulator, the Financial Conduct Authority (FCA), this morning extended the 10% drop rule suspension for a further six months to March 2021 as it warned of market volatility linked to the continued spread of covid-19 and Brexit developments. The temporary coronavirus pandemic-related measure was first introduced in March this year as market volatility spiked. Firms providing portfolio management services or holding client accounts have had to notify clients of 10% market drops since the Markets in Financial Instruments Directive II (MiFID II) came into effect a little over two ...