Where are the big pressure points for asset managers as FCA unveils sector 'remedies'?

FCA released Final Report in late June

Industry commentators have warned the UK asset management industry must brace itself to cope with rising costs and intensifying regulatory headwinds after the Financial Conduct Authority (FCA) unveiled a package of measures to address "weak competition" in the market.

In the Final Report of its Asset Management Market Study, published last week, the FCA said it supported plans for an 'all-in' fund fee, which will include an estimate of transaction costs. The regulator will also require fund managers to appoint a minimum of two independent directors to their boards in order to bolster fund governance, while it will consult on proposals to introduce a new rule requiring the authorised fund manager to assess whether value for money has been provided to end investors. FCA unveils final rules for MiFID II implementation; Confirms trusts status; DFMs sub...