CMA conducted a market investigation into the supply and acquisition of investment consultancy services and fiduciary management services
Asset Management Market Study: Final decision to make a Market Investigation Reference (MIR) on investment consultancy services
As part of their Asset Management Market Study the FCA have made a final decision to make a market investigation reference on investment consultancy and fiduciary management services and to reject the proposed Undertakings in Lieu (UIL).
Time line of the decision
November 2016: the FCA published their provisional decision to make a market investigation reference (MIR) of the investment consultancy market to the CMA.
February 2017: the three largest investment consultants (Aon Hewitt, Mercer and Willis Towers Watson) offered undertakings in lieu of a reference.
June 2017: the FCA reached a provisional view to reject the proposed UIL and we consulted, seeking feedback from interested parties, on their provisional view.
The FCA have now reached a final decision to make a MIR on investment consultancy and fiduciary management services and to reject the UIL.
Feedback on its provisional decision is welcomed by the CMA, before it makes its final decision by March 2019.
An event to discuss important issues on this matter will be held on July 26, 2018.
Read the final decision here
Original Source: FCA
