FCA asset management market study final report - a closer look
Whilst there is work to be done by the industry and the FCA is proposing yet further regulatory changes, these changes are not immediate and are largely open to consultation. This presents the industry with an opportunity to provide further input.
We published an initial summary of the final report on 28 June 2017. In this briefing, we consider and comment on the FCA’s findings and proposed remedies in detail. Most of the remedies do not apply to managers of private and alternative funds, please refer to our previous briefing for these managers.
We have written also a separate briefing note which provides some background on the reasons why the FCA considers an market investigation reference to the Competition and Markets Authority is appropriate in relation to the provision of investment consultancy services. In that briefing we explain the processes and procedures that apply to market investigations, as well as highlighting the likely implications for investment consultants, investors and fund managers of any such reference.