Most financial service executives believe there is potential for a further financial crash despite the actions of regulators to introduce safeguards, according to the latest Duff and Phelps survey.
The Association of Investment Companies (AIC) has urged the FCA to improve competition and tackle a ‘market failure’ in the asset management industry.
Early reactions to the Financial Conduct Authority’s (FCA) Asset Management Market Study are calling for ‘health warnings’ over fees, simpler communications and enhanced governance of fund manager boards.
The United Kingdom’s primary capital market is the focus of a new FCA consultation paper which aims to examine the effectiveness of the sector.
A Kames Capital fund manager has welcomed news the FCA does not intend to stop investors accessing illiquid assets via open-ended funds, even after last summer’s post-Brexit panic.
The FCA is asking for views on open-ended funds investing in illiquid assets, in wake of the widespread bricks and mortar property fund gating that followed June’s Brexit vote.
Coutts must pay out £5.19m (CHF 6.5m) for serious breaches of anti-money laundering rules in connection with the scandal-torn Malaysian 1MDB sovereign wealth fund.
Deutsche Bank has agreed to pay fines of more than £163m to the Financial Conduct Authority (FCA) to settle an investigation into alleged failings to prevent years of illicit ‘mirror trading’ via a Russian outpost.
Three-quarters of asset managers believe the implementation of Mifid II will mean they have to cut their reliance on investment bank research, according to a newly released industry survey.
Key financial illustrations (KFIs) that are intended to help people compare pension and investment product charges in the UK are not fit for purpose and are “the worst possible example of information overload”, says AJ Bell marketing director Billy Mackay.
With the right approach, Brexit could provide investors in the UK funds industry with significant benefits, said Ian Sayers.
New data from Nucleus reveals that the average ongoing charges figure (OCF) for a cross-section of funds has plummeted from 78.6 basis points to 65.3bps (-13.3bps) since the introduction of the Retail Distribution Review (RDR) in 2013.
