Asset Management Market Study Final Decision: Market Investigation Reference (MIR) on investment consultancy services and fiduciary management services
By FCA
This document sets out our final decision to make a Market Investigation Reference (MIR) in relation to investment consultancy services and fiduciary management services.
Alongside our interim report of our Asset Management Market study we provisionally decided to make a MIR. We received a number of responses which we have carefully taken into account when reaching our final decision. In addition, the three largest investment consultants offered us a package of undertakings in lieu (UIL) of a reference to the Competition and Markets Authority (CMA) to address the concerns identified in our provisional decision.
Alongside our Asset Management Market study final report we published our provisional view which was to reject the UIL. Following consultation the FCA has carefully considered the responses received and has made a final decision to reject the UIL and make a MIR to the CMA in relation to investment consultancy services and fiduciary management services.
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