FCA board agrees to ditch 'value for money' tag

Discussion on Asset Management Market Study

The board of the Financial Conduct Authority (FCA) has accepted proposals to ditch the term 'value for money' from the final rules relating to the Asset Management Market Study (AMMS).

The minutes from the board meeting on 21 and 22 March, published today, show the proposed package of remedies resulting from the AMMS were discussed, namely plans to tackle weak price competition. These remedies had generally been welcomed in the consultation, but concerns were expressed about some of the terminology, particularly the use of the term ‘value for money'. As a result, the board accepted the same outcomes could be achieved without the use of the term ‘value for money', which will be removed from the final rules to make it clearer that consideration should be given to whether...