Competition and Markets Authority
Remember, remember the 10th of December…
Trustees risk leaving their scheme ungovernable if they do not get in place strategic objectives for investment advisers, warns John Paterson.
GSAM's David Curtis: The CMA got its review 100% right
In the last part of this Q&A series, PP speaks to GSAM's head of UK & Ireland institutional client business, David Curtis, about his views on the CMA's review into the investment consultant and fiduciary management markets, and the results of our joint...
Hymans Robertson calls for clarification over impact of CMA order on LGPS funds
Local Government Pension Scheme (LGPS) funds must set investment objectives after the competition watchdog expanded those caught by its market investigation, but more clarity is needed, Hymans Robertson has said.
CMA takes final step in reform of investment consultants and fiduciary managers
The Competition and Markets Authority (CMA) has issued a legally-binding order in a bid to help pension trustees make better decisions for the £1.6trn of retirement assets they oversee.
'Big four' must split audit and consultancy work, says CMA
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
CBC Pension Services' Michael Clark: What trustees think of the CMA review
PP speaks to CBC Pension Services' Michael Clark about his views on the CMA's review into the investment consultant and fiduciary management markets.
Punter Southall Governance Services' Wayne Phelan: What trustees think of the CMA review
PP speaks to Punter Southall Governance Services' Wayne Phelan about his views on the CMA's review into the investment consultant and fiduciary management markets.
Dalriada Trustees' Hugh Nolan: What trustees think of the CMA review
PP speaks to Dalriada Trustees' Hugh Nolan about his views on the CMA's review into the investment consultant and fiduciary management markets.
BESTrustees' Heather McGuire: What trustees think of the CMA review
PP speaks to BESTrustees director Heather McGuire about her views on the CMA's review into the investment consultant and fiduciary management markets.
Five stories you may have missed this week
This week's top stories included warnings that defined benefit (DB) transfers could become more difficult for trustees to process after regulatory register changes.
Government consults on abolishing FRC after Kingman review
The government has launched a consultation on scrapping the Financial Reporting Council (FRC) following two separate reviews.
Government announces plan to press ahead with CMA reforms
The government will proceed with a range of changes to the investment consultant and fiduciary management markets as recommended by a major competition review.
CMA issues draft order on remedies from market review
The Competition and Markets Authority (CMA) has taken its first steps towards imposing a suite of remedies for the investment consulting and fiduciary management markets.
Exclusive: KPMG launches ratings for fiduciary managers
KPMG has introduced ratings for fiduciary management products and managers, mirroring its current approach with other investment manager funds.
XPS Pensions: Trustees must 'wake up and smell the coffee' after CMA review
Some investment consultants and fiduciary managers may be misrepresenting the conclusions of a major market competition review to clients, XPS Pensions says.
CMA review calls for accountancy overhaul; Kingman review recommends FRC abolition
The Financial Reporting Council (FRC) should be abolished and audit and advisory businesses should be split into separate entities to improve the sector for both savers and investors, two reports published today say.
Here's to a happy (but quieter) New Year
As a hectic 2018 draws to an end, Jonathan Stapleton wishes readers a quieter 2019.
Market welcomes 'real teeth' in 'thorough' CMA final report
The Competition and Markets Authority's (CMA) final report on the investment consultant market has been celebrated as having "real teeth" to produce better outcomes for members.
UPDATED: CMA issues final report; Schemes must invite three firms in fiduciary management tender
Tenders for first-time fiduciary management mandates will be mandatory, must be conducted on a closed basis, and will apply to any mandate for over 20% of a scheme's assets, the Competition and Markets Authority (CMA) has confirmed.
BMO expands business with fiduciary management offering
BMO Global Asset Management has opened a UK fiduciary management business, promising a "truly open architecture" approach to deliver "better client outcomes".
Fiduciary management growth plummets as CMA probe nears conclusion
The number of defined benefit (DB) schemes using fiduciary management grew by just 9% over the 12 months to June this year, according to KPMG.
'Big three' continue to resist CMA's fiduciary management tender evidence
Aon, Mercer and Willis Towers Watson have renewed criticism of the Competition and Markets Authority (CMA) over its analysis of the benefits of tendering for fiduciary management contracts.
Fiduciary management tendering could cut fees by 20% - CMA
Tendering for fiduciary management has led to fees being reduced by between 19% and 22%, latest analysis by the Competition and Markets Authority (CMA) finds.
Final CMA decision likely by Christmas; remedies enforced from June 2019
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.
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