From the blog: The Competition and Markets Authority has taken a few small steps, but one giant leap is needed to improve outcomes for UK pension funds.
The CMA’s provisional decision report proposed much-needed remedies to the UK’s investment consulting and fiduciary management industry, and were a clear step in the right direction.
There is, however, an opportunity for the CMA to make a bigger impact and help the industry take a giant leap forward.
Recommendations to introduce compulsory tendering, fiduciary management performance standards and enhanced trustee guidance have certainly made the industry sit up and think.
With a few tweaks to the proposals, the positive impact of the remedies should be widely felt.