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UK: Fund chiefs ‘should face competition probe’

 |  February 22, 2015

UK watchdog is being urged to carry out a competition review into the funds industry after it began an unprecedented probe into the wholesale banking market, The Financial Times reported Sunday.

While launching its investigation of investment and corporate banking on Wednesday, the FCA said it would consider carrying out a similar study into asset management and related services later this year.

“We would strongly urge the FCA to undertake a market study into the asset management sector without delay,” said Sue Lewis, who chairs the IoD.

In an initial review of wholesale financial markets, the FCA said that profitability in asset management was “high” and that this “may indicate that competition is not working as effectively as it could be”.


Full Content: The Financial Times


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