Expert legal advice from The Competition Lawyers

Investment consultants market investigation updated

First published by Author on October 12, 2018 in the following categories: Investigations and tagged with |

finance and credit cards

The investment consultants market investigation currently underway by the Competition and Markets Authority (CMA) has been updated.

The CMA opened their investigation last year after the FCA referred matters over for a market investigation. The CMA has been looking into ‘the supply and acquisition of investment consultancy services and fiduciary management services to and by institutional investors and employers in the UK’.

This followed an interim report published by the FCA (Financial Conduct Authority) in 2016 where they proposed that the investment consultancy market be referred for a competition investigation.

Grounds of the investment consultants market investigation

The grounds for the investment consultants market investigation are based on the referral as follows:

“…the FCA remained of the view that there were reasonable grounds for suspecting that features of the investment consultancy market were preventing, restricting or distorting competition.”

As such, the supply and acquisition of investment consultancy services and fiduciary management services are being looked into in the UK.

A final report is looking to be published by the end of this year. Final responses and submissions from companies in the market are due this month.

If the investment consultants market investigation finds that competition laws are being breached, huge fines could be issued to the organisations responsible.

When it comes to something as important as financial matters the consumer must always be looked after. Their interests simply must come first at all times.

Respondents in the investment consultants market investigation

Respondents in the investment consultants market investigation with regards to the provisional decision report include:

  • Aon
  • B&CE Limited
  • Barnett Waddingham
  • Bfinance
  • BlackRock
  • Barker Tatham Pension Investments
  • Cambridge Associates
  • Capita Employee Solutions
  • Cardano
  • CFA Institute and IC Select
  • CFI Institute
  • Charles Stanley Asset Management
  • Dr Anna Tilba
  • IC Select
  • Jagger and Associates
  • JLT Employee Benefits
  • KPMG
  • Lane Clark & Peacock LLP (LCP)
  • Law Debenture
  • Legal & General Investment Management (LGIM)
  • Mercer
  • Principles for Responsible Investment (PRI)
  • Redington
  • River and Mercantile
  • Russell Investments
  • Schroders
  • ShareAction
  • Smart Pension Limited
  • Spence and Partners
  • Stamford Associates
  • IFoA
  • The Investment Association
  • The Pensions and Lifetimes Savings Association (PLSA)
  • Verus Advisory Limited
  • XPS Investment
  • WTW
  • Derek Scott
  • Hyman Robertson LLP
  • Malcolm Lee Consulting Limited
  • SEI Investments Europe Limited
The content of this post/page was considered accurate at the time of the original posting and/or at the time of any posted revision. The content of this page may, therefore, be out of date. The information contained within this page does not constitute legal advice. Any reliance you place on the information contained within this page is done so at your own risk.
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