Financial Conduct Authority launches inquiry into level of competition in £6.6tn sector and says it will rob action whether neededThe Financial Conduct Authority has said it is prepared to intervene to increase competition and reduce charges to the 25 million customers of Britain’s £6.6tn investment management industry.
On Wednesday,the City regulator set out the terms of its inquiry into the sector, which includes £2.1tn of pension fund investments and £1.2tn of retail investment products, or such as personal pensions and Isas. The FCA said the industry could face a regulatory crackdown and that it may punish individual firms whether necessary.
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Source: theguardian.com