FCA imposes restrictions on SEI's UK platform business

SEI restricted from launching products and onboarding institutional clients

Sahar Nazir
clock • 1 min read

SEI’s UK platform business is now restricted from onboarding new institutional clients and launching fresh products or services without gaining permission from the regulator, according to an update on the Financial Conduct Authority (FCA) register.

SEI Investments can no longer enter into any significant new agreements involving regulated activities with institutional clients as of 26 February 2025, without gaining the watchdog's permission. Additionally, the platform technology provider and custodian is now restricted from introducing new products, propositions, or services without explicit written approval from the regulator. The regulator stated: "These requirements will remain in effect unless and until they are varied or revoked by the Authority, either at SEI's request or on the Authority's own initiative, once the firm ha...

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