investment consultants
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.
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.
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.
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.
'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.
Mercer slams 'data errors' in CMA probe's 'unreliable' analysis
Errors in the Competition and Markets Authority's (CMA) data analysis make its provisional decision on the investment consultants market investigation "flawed", and lacks an "adequate evidential basis" to impose remedies, Mercer has said.
Industry issues verdict on CMA plans
The CMA investigation into the investment consultants and fiduciary managers market is drawing to a close. James Phillips looks at reaction to the provisional decision
Govt should fine or disqualify pension-dodging directors
The majority of Pensions Buzz respondents said directors who avoid obligations should be penalised.
Exclusive: PLSA calls for mandatory FM tenders to be run on closed basis
Mandatory tenders for fiduciary management services should be conducted on a closed basis with no minimum threshold for the number of managers involved, the Pensions and Lifetime Savings Association (PLSA) says.
CMA remedies need tightened 'rulebook', says Aon
Proposed remedies for the investment consultant and fiduciary management market will need a substantially clearer rulebook in order to be practical, Aon has warned.
Do the CMA's proposals go far enough?
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.
Five stories you may have missed this week
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.
Industry split on whether CMA proposals go far enough
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.
CMA report 'pragmatic and realistic' while mandatory tendering 'will bring better value'
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.
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.
CMA to publish initial decision on investment consultancy market on Wednesday
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.
Mixed views on £1m max fine for failure to report corporate events
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.
CMA's provisional decision on consultancy/fiduciary markets due 'in next few weeks'
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.
IC Select finds just 3% of schemes retendered investment consultants last year
The number of pension schemes retendering for investment consulting services has dropped sharply over the last decade, IC Select research reveals.
CMA: Tenders and professional trustees lead to lower fiduciary management costs
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.
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