Following the UK Financial Conduct Authority’s (FCA) final report on the asset management market study in June 2017, it has decided to make a Market Investigation Reference to the Competition and Markets Authority (CMA) on investment consultancy and fiduciary management services.
The FCA found reasonable grounds to suspect there are features of the asset management sector which prevent, restrict or distort competition.
The CMA launched its investigation on 14 September 2017 by sending requests for information to several main players in this area and will shortly publish an issues statement setting out the proposed focus of the investigation, and the potential remedies should an adverse effect on competition be found.
The investigation is due to be concluded by March 2019.
Read the FCA’s Final Decision.
If you would like to discuss any aspect of this, please contact one of the Dechert lawyers listed below or any Dechert lawyer with whom you regularly work.