Editor's View: The FCA's not-so-final Final Report

Package of measures

Today's eagerly-anticipated release of the Financial Conduct Authority's (FCA) Final Report of its Asset Management Market Study is actually just the beginning in terms of tackling industry-wide issues, writes editor Katrina Lloyd.

Nowhere is there a better example of the challenges facing our industry and its regulators than today's supposedly ‘final' report on the sector. Rather than providing clear answers to many of the questions raised in last November's Interim Report, it instead kicked off a series of further consultations on areas including charging disclosure and fund governance. The regulator ‘supported' or made further proposals in many areas, without showing its teeth as much as some consumer groups would have wanted. But reading through the responses to the Initial Report, it is clear the FCA has fo...