The CMA’s final report and what it means for your scheme
The CMA published its final report into the investment consulting (IC) and fiduciary management (FM) market on 12 December 2018.
It found that there were adverse effects on competition in both markets and have set out a package of 8 remedies alongside 4 supporting remedies. It has a greater concern with the FM market than Investment Consulting; 5 of the 8 remedies relate specifically to FM, 1 to IC and 2 to both IC and FM.
In this note we summarise the remedies and provide more detailed appraisal of each one.