The Asset Management Market Study is "probably the most significant piece of competition work the FCA has undertaken to date", the regulator's director of strategy and competition Christopher Woolard has said.
Addressing the annual conference of the Tax Incentivised Savings Association, Woolard (pictured) said the findings of the study, the interim report of which was published on 17 November, point "to a need for reform". He continued: "For asset managers, we understand the report and its interim findings are challenging. We also appreciate the commercial complexity they are operating under. And the complexity of the policy environment. "So one point I want to stress is that we see the report as indicative, first and foremost, of a market failure in the economic sense. This has been about ...
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