The UK Financial Conduct Authority (FCA) published its interim report for the asset management market study (AMMS) on November 18, 2016. Several core themes and challenges in the industry, along with proposed remedies were outlined by the regulator in this report.
The New City Initiative (NCI) engaged with its diverse membership to ascertain what it thought of the AMMS, and its proposals. The general consensus is that while a lot of what the FCA is putting forward is perfectly reasonable and in line with industry best practices, there are some areas which need to be refined.