Will the FCA's review tackle the 'conflict of interest' within the ACD market?

Follows Woodford gating

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He said: "Fund managers could choose either a cheap or lax ACD to work with them. And that is unfortunately part of that conflict of interest" FundRock Partner's Matthew Priestley
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He said: "Fund managers could choose either a cheap or lax ACD to work with them. And that is unfortunately part of that conflict of interest" FundRock Partner's Matthew Priestley

The Financial Conduct Authority's (FCA) impending review into the role of authorised corporate directors (ACDs) should take aim at a "conflict of interest" at the heart of their relationship with investment managers, as well as the qualifications of those performing vital functions, according to industry experts.

In August it emerged that the suspension of the Woodford Equity Income fund, and the role of its ACD Link Asset Services, had led the FCA to inform the market of a review. While little is known as ...

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