Non-Compliance is operated by a team of industry veterans who work across the financial services industry. We review submissions from the public regarding issues they've experienced with their investment platform of choice
Once reviewed we publish a select few periodically - usually grouped around key themes and repetitive issues being discovered
We work for free. The mission is simple : Highlight non-compliant issues sitting in the public domain yet the Regulators apparently can not spot!
Found an issue with your broker? Use the form below to raise your question with us.
Wanna join the team and help out reviewing user submissions? Contact us using the form below
On balance HL are one of the better platforms when it comes to most compliance obligations
So much so that other platforms appear to copy HL rather than make their own judgement!
Having gotten into bother for their lack of ISA compliance in recent times you'd imagine they'd have upped their game!
But in terms of sheer number of errors : Trading212 are usually top of the leaderboard
With an uncanny similarity to HL data, AJBell has cleaned up it's act recently!
However copying HL isn't always perfect and inhouse knowledge appears to be letting them down. Our conversations with the Help Desk exposed a lack of knowledge.
ii, on the whole, do pretty well considering how many assets they administer and the speed at which they add new products to the platform.
Sometimes their speed might let them down. We can find numerous non-compliant datapoints spanning many types of regulation.
We received a lot of submissions surrounding trade execution prices from Freetrade. We found nothing untoward. We can see FT execute via the RSP network and any trade executed RSP is (according to the authorities) 'best execution'. Sorry folks. When you trade outside this you take your life in your hands somewhat. But that is clearly stated in the Trade Execution Policy.
Most errors can be spotted across the entire group - so affect Halifax, Bank of Scotland, iWeb and Lloyds stockbrokers.
Disclosure of fees seems the biggest gripe at the moment.
For a small platform that predominately trades ETFs we unsurprisingly had few submissions regarding Wealtyhood. Of the handful we did only the Key Information Document oddities stood out.
We note common submissions around various overseas Transaction Taxes and Costs/Charges disclosure. We will review and comment in due course.
Stay tuned. Thanks
We note your comments around Cost disclosure. But did not want to sound like abroken record since a lot of brokers have issues in this area.
Stay tuned. We wil review and comment if we find anything of note.