Co-founder at The People’s Trust Daniel Godfrey on the FCA’s Asset Management Interim Review:
“The FCA has proposed a combination of sunlight and governance remedies that would make the funds industry more Darwinian in the interests of consumers. In particular, raising the bar on fiduciary standards and introducing independent governance to challenge asset managers on value for money would improve governance. Also the sunlight remedy of an all inclusive charge and requirements for funds to be explicit about their objectives, strategies measures and timeframes would create better informed advisers and consumers, better able to judge prospective employees and actual value for money and hold asset managers accountable. Combined this would all create a stronger industry, which is better for the industry and consumers, although not every firm in the ecosystem today.”
