The Investment Association has issued an initial response to the FCA’s Interim Report to its Asset Management Market Study.
Chris Cummings, Chief Executive Officer, the Investment Association, said:
“The investment management industry is committed to serving the needs of the UK’s savers and investors and so we support the FCA's objectives to ensure that competition in the industry works to the benefit of its customers, whether individuals, families or institutions. Over the coming weeks, we will engage closely with the FCA to understand its findings and the full implications of potential remedies.
“We are pleased that the FCA has recognised the industry is already leading on improving cost transparency for our clients by developing a new Disclosure Code, and the investment industry notes and welcomes the regulator’s strong backing for the project. We look forward to working more closely with the regulator to deliver this important goal."
The Investment Association will provide a more detailed response later when they have had the chance to consider the proposals in more detail.
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