The £242m merger of platform Nucleus and SIPP and SSAS provider Curtis Banks has received regulatory approval after the conclusion of a review by the Competition and Markets Authority (CMA).

The Competition and Markets Authority is to investigate the merger between platform Nucleus and SIPP provider Curtis Banks.

The FCA, and its sister body the Payment Systems Regulator (PSR), are to lead a study into setting up a regulator of Open Banking.

Platform engine FNZ must sell its recent acquisition of competitor GBST, but will have the right to repurchase a “narrower package of assets”, according to the final reassessment report from the Competition Markets Authority (CMA).