Platform engine FNZ is to appeal against the Competition and Markets Authority’s order to sell off its recent acquisition and rival GBST.

Standard Life is to move 120 service staff working for its Elevate platform to support provider FNZ.

The news this week that platform engine provider FNZ has been ordered by the competition watchdog to sell GBST was a bit of a shock. 

The Competition and Markets Authority has ordered platform engine provider FNZ to sell rival and takeover target GBST over fears that millions of UK pension savers and investors could face worse service and higher prices.