Jonathan Stapleton says the jury is out on whether or not the competition watchdog has gotten it right with its proposals for consultants and fiduciaries.
This week's top stories included coverage of the Competition and Markets Authority's provisional decision following its investigation of investment consulting and fiduciary management.
Respondents were almost evenly split in this week's Pensions Buzz on whether the Competition and Markets Authority's (CMA) remedies for the investment consultant and fiduciary management markets go far enough.
Proposals for mandatory tendering of fiduciary management services, as well as additional guidance for trustees, have been welcomed by industry commentators albeit with some caution.
The Competition and Markets Authority (CMA) published its provisional decision on its investment consultant market investigation this morning. Here is the reaction from consultants and fiduciaries…
UPDATE: CMA proposes mandatory tenders for FM mandates but spares investment consultant market from widespread change
Investment consultants have been spared a major shake-up in their operations and business models after an investigation by the competition watchdog proposed just a handful of remedies.
The Competition and Markets Authority (CMA) will publish its provisional decision as to whether there are adverse effects on competition in the investment consultants market on the morning of 18 July.
Respondents were split in this week's Pensions Buzz on whether the £1m maximum penalty for failing to notify The Pensions Regulator (TPR) of certain corporate events was appropriate.
The Competition and Markets Authority (CMA) says it will soon publish its provisional decision on whether there are competition problems in investment consultancy and fiduciary management.
The number of pension schemes retendering for investment consulting services has dropped sharply over the last decade, IC Select research reveals.
The investment consultant and fiduciary management market "may not be working well for pension schemes which are not engaged", the Competition and Markets Authority (CMA) has said.
Majority of respondents agree with the PLSA that regulation is too micro-managerial
Regulation aimed at improving the governance of occupational pension schemes has left the sector "regulated to the lowest common denominator" with a "prescriptive and micro-managerial approach".
The Competition and Markets Authority (CMA) has published three working papers as part of its probe into investment consultants and fiduciary managers - saying it has no concerns over concentration in these markets.
The time and costs involved in the process of tendering and/or switching a fiduciary manager can be 'considerable' and may make it more difficult for schemes to assess value for money and switch provider.
The CMA's latest working paper finds trustees are very likely to choose their existing investment consultant for a fiduciary management mandate without third-party advice, James Phillips reports
The pressure of "excessive regulation" is causing a drop in the number of lay trustees and deterring people from taking up the role, according to this week's Pensions Buzz respondents.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.
The industry has welcomed the Competition and Markets Authority's (CMA's) working paper on the information available to trustees on the fees and quality of investment consultants and fiduciary managers.
CMA: Competitive processes not providing trustees with 'necessary information' to judge value for money of ICs and FMs
The Competition and Markets Authority (CMA) has released a working paper detailing its analysis around the information available to trustees on the fees and quality of investment consultants and fiduciary managers.
In this week's Pensions Buzz, we want to know if you think the Competition and Market Authority's (CMA) investigation into the investment consultant market has damaged their business activity.
Rory Murphy, trustee chairman of the Merchant Navy Officers Pension Fund (MNOPF), says trustees must do more to share best practice in bid to improve outcomes.
The Competition and Markets Authority has (CMA) set out the coverage of its "thorough and independent" investigation of investment consultants and fiduciary managers, and what action it could decide to take.
This week's top stories included the revelation that the Communication Workers Union was planning to cut its pension provision, despite launching a ballot for industrial action against Royal Mail for similar plans.