Under the FCA’s Asset Management Market Study, the final report of which was published in June 2017, the City watchdog…
PRICE COMPETITION AND VALUE FOR MONEY ARE COMING UNDER INCREASED SCRUTINY BY EU AND UK REGULATORS.
As a consequence, the UK FCA requires Authorised Fund Managers (AFMs) to assess the value for money of each fund, take corrective action if it does not offer good value for money, and explain the assessment annually in a public report. In addition the Senior Managers and Certification Regime (SM&CR) requires a senior individual to take “reasonable steps” to ensure that the AFM carries out the assessment of value and acts in the best interests of investors.
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