FCA makes maiden market investigation reference

The UK’s investment consultancy sector faces a lengthy and detailed investigation as the FCA has passed on the baton to the Competition and Markets Authority (the CMA) with its decision to make a market investigation reference (MIR) – it is the first time that the FCA has made such a reference.

The FCA has recently announced its decision (14/09/2017) to make a MIR to the CMA in relation to the supply, and acquisition of, investment consultancy and fiduciary management services to and by institutional investors and employers in the UK.