FSA proposals could hurt asset managers, brokers and vendors

REGULATION AND COMPLIANCE

LONDON -- UK-based asset managers are set to bear the brunt of the Financial Services Authority’s (FSA) ‘softing’ and bundling proposals outlined in the consultation paper it published in April this year, CP176 (see BSIT May, page 8). Such is the conclusion of a recent report published by Boston-based research and advisory firm Celent Communications.

Celent’s managing director, Octavio Marenzi, says in the report that fund managers will in future be forced to pay directly for all services the

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