FCA launches thematic review into fund managers' use of commission

The FCA has revealed it is to launch a thematic review into fund managers' use of dealing commission to pay for broker research and corporate access.

In a speech delivered this morning, FCA chief executive Martin Wheatley said the regulator will also publish a consultation paper  on corporate access next month. The thematic review will look at how sell-side brokerage services are translated into fund manager costs, and what the latter do to limit these expenses. The consultation paper, meanwhile, will clarify the FCA's existing rules on corporate access. Wheatley (pictured) said the FCA had increasingly come across evidence the current regime does not sufficiently enhance transparency and accountability. As a result, he said ...