FCA launches review of competition in fund management sector

The Financial Conduct Authority (FCA) is to launch a probe into competition within the asset management industry, focusing on whether practices in the wholesale space are having a negative effect.

As part of a wider review of other industries, the FCA said it will look at wholesale financial markets given their importance to the wider economy. The FCA's review will look specifically at behaviour within the asset management space that could inhibit or distort competition. It is assessing whether there are potential barriers to entry or expansion for new or smaller players, conflicts of interest, and the effects of cross-selling or bundling of services. The FCA said it is seeking views on these and other issues. Christopher Woolard, director of policy, risk and research at ...