Timeline: what resulted in the FCA’s drive to reform fund managers

March 2015 The Financial Conduct Authority states it will probably introduce market research examining the costs paid by people to asset managers as an element of its business plan the year. “The aim of the study is to comprehend whether competition is working effectively to enable both institutional and retail investors getting affordability when buying asset management solutions,” it says.

November 2015 The regulator establishes away its regards to research when it comes to asset management marketplace research, outlining it'll concentrate on whether competitors is working effortlessly allow investors for affordable. The FCA states it's planning to publish an interim report during the summer 2016 and its particular last report during the early 2017.

August 2016 FCA verifies the interim report has-been delayed and will not be posted through to the last quarter of the year.

November 2016 The regulator posts a very critical interim report that states retail people have a tendency to get poor affordable and cost competitors is weak. The watchdog places forward numerous possible treatments, including pushing investment managers to deliver even more quality on costs and gratification objectives, and alerts the effective financial investment consulting business could face a formal competition research.

February 2017 The due date for giving an answer to the FCA’s interim report passes. Big asset administration groups, including Old Mutual worldwide Investors and Vanguard, oppose an all-encompassing cost that features exchange prices.

Summer 2017 The Investment Association and ICI worldwide, two influential trade groups representing investment managers, make a belated plea for leniency through the FCA. They argue that the weakened place associated with the UK’s asset administration marketplace due to Brexit is a reason for regulator in order to prevent overzealous reforms.

Summer 2017 The FCA posts your final report, which appears by several of its many controversial reform a few ideas such pushing portfolio managers to present investors with an all-encompassing fee also to place separate directors on investment boards. The regulator also requests that the federal government permits it to modify the powerful financial investment consulting business, which determines how the vast majority of UK pension systems spend their money.

2017-06-30 05:54

Asset management lies between brain surgery and estate agency

Investment houses should differentiate themselves through philosophy and magnificence, says John Kay
2017-06-30 02:27

Stress tests obvious huge United States banking institutions for $100bn payout

Fed offers green light to buybacks and dividends totalling virtually 100percent of earnings
2017-06-29 19:22

Worldwide relationship areas offer sell-off

Yields surge after main financial institutions spark concern that age of ultra-loose policy is ending
2017-06-29 05:51

MSCI: ‘Passive investing will likely be good-for society’

Chief executive of data provider defends inclusion of Chinese A-shares in EM list
2017-06-28 18:15

British monetary regulator places asset administration industry on notice

FCA proposals would make UNITED KINGDOM one of several most challenging regulating climates for asset managers
2017-06-28 12:56

UK fund administration shake-up: the reaction

How recommended reforms of industry are increasingly being viewed by leading members