The UK CMA annonces the launch of a market investigation into investment consultancy services and fiduciary management services

On 14 September 2017, the Competition and Markets Authority (CMA) announced that, following a reference from the Financial Conduct Authority (FCA), it was launching a market investigation into investment consultancy services and fiduciary management services to and by institutional investors and employers in the United Kingdom. The FCA has commented that “it is a significant step for us to make this recommendation. We have serious concerns about this market and believe that the CMA is best placed to undertake this work”. It is the first time that the FCA has referred a market to the CMA for investigation. Background The FCA launched a market study into asset management in November 2015, and published its interim report in November 2016. The interim report found that there were a

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Frances M. Murphy, The UK CMA annonces the launch of a market investigation into investment consultancy services and fiduciary management services, 14 September 2017, e-Competitions Bulletin October 2017, Art. N° 84794

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