The UK Financial Conduct Authority (“FCA”) is undertaking a study of the asset management market, which manages GBP 6.9 trillion, and is the second largest market in the world after the US. The rationale for the study is to ensure, as part of the FCA’s overall purview, that the UK market works well.  As part of the FCA’s new competition remit, the study is also looking at whether the market is sufficiently competitive so as to offer value for money for consumers.  An interim report was published on November 18, 2016, which voiced concerns about charges, performance, and competition in the industry.
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