FCA Extends Oversight of UK Asset Management Sector

Regulator sets new obligations for senior managers and focuses on investor costs.

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The policy paper, released on April 5, follows an extensive study of the sector conducted by the Financial Conduct Authority (FCA) in June 2017, in which the regulator found that weak price competition and a concentrated advisory sector was having a detrimental effect on investors. The Competition and Markets Authority, the UK’s antitrust regulator, has since opened an investigation into firms offering advice.

The UK’s asset management industry is the second-largest in the world, behind the US,

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