View from the Bridge
FCA Warning to Asset Managers – Tax-Advantaged Sector will need to change
The Financial Conduct Authority (FCA) recently published its Management Market Study Final Report, a hard-hitting document hiding behind a rather soberly named title. In November 2016, the FCA’s interim report found evidence that suggested that there was weak price competition in a number of areas of asset management, and this finding was confirmed in the final report.
Whilst these plans were not specific to the tax-advantaged world of investments, certain measures will very likely affect managers in this area – in particular, those relating to the disclosure of costs and charges.