Tech Investment Could Help UK Asset Managers Meet FCA's Calls for Sweeping Changes

Markets watchdog releases blistering criticisms of client charges and proposes all-in fee

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Managing just under £7 trillion, the UK's asset management industry is the world's second-largest.

“We have listened carefully to the feedback we received in response to our report last November,” said FCA CEO Andrew Bailey, in a statement. “We have put together a comprehensive package of reforms that will make competition work better and help both retail and institutional investors to make their money work well for them.”

The FCA found, in a 114-page report released on June 28, that there was little relationship between fund performance and the fees charged to investors, while both

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