|
|
The Financial Conduct Authority (FCA) will prepare a second consultation “on transparency-related points like benchmarking, performance reporting and, if needed, objectives and the all-in fee”, according to Megan Butler, executive director of supervision for wholesale and specialist investment at the FCA.
These are aspects the FCA has already been consulting on in connection with its asset management market study.
In a speech at an investment conference, Butler said the regulator was in the process of reviewing responses to the consultation it launched when it presented its final report on the study in June.
All in all, the FCA had come up with “a strong package of measures that will reduce harm and increase public value”, she added.
Last week, the Competition and Markets Authority set out the initial framework for its competition inquiry into the investment consulting and fiduciary management sectors, one of the main aspects of the market study.
Butler also said the regulator was going to launch an authorisation “hub” for asset managers, aimed at supporting new entrants to the market.