The Financial Conduct Authority has published a policy statement announcing its feedback and final rules on its Asset Management Market Study. Here, we look at the ten key points.
Final policy Value rule The FCA has extended the implementation period for fund managers to explain their products' value from 12 to 18 months. Following feedback from fund managers, which argued the draft rules were too focused on assessing charges rather than the overall value of a fund, the new rules will require fund managers to carry out an assessment - which must explicitly include fund performance - and publish an annual statement describing it. The new rules will take effect on 30 September 2019. All-in-fee The FCA also noted the AMMS highlighted the importance of cle...
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