FCA board agrees to ditch 'value for money' tag

Discussion on Asset Management Market Study

Beth Brearley
clock • 2 min read

The board of the Financial Conduct Authority (FCA) has accepted proposals to ditch the term 'value for money' from the final rules relating to the Asset Management Market Study (AMMS).

The minutes from the board meeting on 21 and 22 March show the proposed package of remedies resulting from the AMMS were discussed, namely plans to tackle weak price competition. These remedies had generally been welcomed in the consultation, but concerns were expressed about some of the terminology, particularly the use of the term ‘value for money'. As a result, the board accepted the same outcomes could be achieved without the use of the term ‘value for money', which will be removed from the final rules to make it clearer that consideration should be given to whether the charges are j...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Why non-transparent managers are behind most failed acquisitions

Why non-transparent managers are behind most failed acquisitions

‘They don’t understand the importance of culture and cohesion’

Rami Cassis
clock 12 April 2024 • 3 min read
Partner Insight: Understanding the investment universe

Partner Insight: Understanding the investment universe

Invesco
clock 12 April 2024 • 6 min read
FCA issues warning notice to Neil Woodford over liquidity failings

FCA issues warning notice to Neil Woodford over liquidity failings

The firm failed on four accounts between 2018 and 2019

James Baxter-Derrington
clock 11 April 2024 • 2 min read