The Financial Conduct Authority’s (FCA) final report on the asset management industry was met last week with a mixed reaction from active managers, but somewhat more concern from the investment consultant community.
While the final study did not deviate too far from the regulator’s interim report released in November 2016, its stance is largely perceived to have been softened and may indicate the regulator believes the £7 trillion industry remains capable of putting its own house in order. The funds industry is however still facing some major changes, with investment consultants set to undergo a full-blown competition probe after the FCA conceded its proposed measures did not go far enough.
Some experts welcomed the report and its goals, whilst others criticised the City regulator for not going far enough. With this mixed reaction in mind, JPES Partners has undertaken a detailed analysis of the core findings of the report and how the media has responded, plus an insight into how the press expects the story to play out.