FCA's Bailey: More work to be done on fees

Regulator does not want to 'incentivise short-termism'

Andrew Bailey, chief executive of the Financial Conduct Authority (FCA), has said despite "big changes" already taking place in the area of fund fees, more work is required from the industry and the regulator.

Bailey (pictured) said the FCA wanted to "continue the dialogue on value for money" within the sector as part of recommendations made in its recent Asset Management Market Study. Speaking at the Investment Association's annual dinner at Mansion House on Tuesday, Bailey said: "We see that there are big changes already happening in the world of fees, and now seems like the correct time to make sure what emerges is sensible and fit for purpose.  "But we do recognise the challenges and where more work is needed [and] we have further work under way. "We want to continue the dialogue on ...