FCA's Asset Management Final Report: Top ten takeaways for retail sector

1. All-in fee As initialy proposed in the Interim Report published last November, the FCA is going ahead with plans to introduce an all-in fee with feedback from asset managers pointing to option B as a clear favourite - which means the current ongoing charges figures (OCF) becomes the actual charge, with managers providing an estimate on any implicit or explicit transaction costs. However, mindful of the incoming MiFID II rules in January 2018, the regulator said further work needs to be carried out and it will consult on proposals later in the year. Interim FCA Asset Management Study...