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ARTICLE · 03 JULY 2017

FCA Publishes Final Report On Competition In UK Asset Management

Ropes & Gray LLP
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The FCA's study focussed on the market for retail investors that invest through funds and segregated mandates.

United KingdomFinance and Banking
Michelle Moran
Michelle Moran
John Young
John Young
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The Financial Conduct Authority ("FCA") published today its final report on its asset management market study.

The report is the culmination of almost two years' work on the UK asset management sector by the FCA, focussing on matters such as weak price competition amongst asset managers (particularly in the active retail sector), perceived high profitability, price clustering for asset management fees and a lack of customer focus on fund charges.

The Final Report sets out the FCA's conclusions on its work, and the FCA will now focus on specific remedies. Because remedies will be the subject of various future consultations, there are no immediate rule changes, although the FCA includes a Consultation Paper (CP 17/18) to set out its proposed specific new rules on a number of areas covered in the final report.

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