Following the release of the Financial Conduct Authority's (FCA) final 'remedies' as part of its Asset Management Market Study, some consumer groups criticised the regulator for not taking a strong-arm approach, arguing the step-change needed is unlikely to be driven by the sector itself.
Although some groups at the time tried to play down the impact of the findings by arguing their models were already fit for purpose, the reality is the FCA paper was a game changer. Now, with the headline-grabbing...
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