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.