Asset Management Market Study

[Ginge R]

Released this morning, not a cop out. If you invest, whether you read it or not, this is the most relevant and important document that'll affect you this year.

https://www.fca.org.uk/publication/market-studies/...

[Cheib]

I'd challenge the asertation that it will affect people this year.....these things take a huge amount of time to be implemented. It might have an impact on pricing in the shorter term for retail investors but I am sure the Asset Mgmt industry will resist. Part of the problem is that a lot of other regulation is increasing the costs that Asset Managers have (and other parts of the financial services industry). Forms are spending tens of millions (in some cases hundreds) on compliance with MIFID 2. Indeed Asset Managers are now going to have to pay (hard payment not a soft one) Investment Banks for services they used to receive for free.....that money will come from somewhere.

The only thing I do know is that the regulator has a history of not giving clarity when implementing new regulations which invariably adds to costs which as we all know ultimately comes out of the customers pockets. RDR being a fine example of how not to do it.

[Ginge R]

The FCA will start immediately to introduce aspects of it. Investment managers know, I suspect, it was bad - but it could have been a lot worse. I take your point completely about the regulator, but this time, I think it's different.