FCA could intervene after damning review of fund value assessments

In the report published today (6 July), the FCA said it expects "more rigour" from fund managers' value assessments, having seen evidence of poor or unsatisfactory assessments of performance and costs, and independent directors lacking "sufficient understanding of relevant fund rules." The FCA urged fund managers to make changes to "address shortcomings" where necessary, with the regulator planning another review "within the next 12 to 18 months" assessing "how well firms have reacted to our feedback". "We will consider other regulatory tools should we find firms are not meeting the s...