Investment consultants have been spared a major shake-up in their operations and business models after an investigation by the competition watchdog proposed just a handful of remedies.
In its 330-page provisional decision, published today, the Competition and Markets Authority (CMA) said, while a number of firms were available to choose from, its investigation had found some competition issues within both the investment consultancy and fiduciary management markets. Throughout a 10-month investigation, the regulator had issued eight working papers on a variety of topics relating to the market - including barriers to entry and expansion, product recommendations, and trustee engagement - with a wide range of potential remedies depending on the severity of its conclusion. ...
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