THE UK’S FUND managers, brokers and pension funds are becoming increasingly concerned about the opinions of the UK’s Financial Services Authority as a deadline set by the regulator looms closer.
The FSA’s December cut-off for the industry to have shown progress towards greater transparency and disclosure in execution services and research, and for the emergence of a truly competitive marketplace for research, is fast approaching. The FSA has threatened to respond to poor performance by imposing regulation.
Although the industry has made progress in transparency and disclosure, when it comes to research its proposed solution does not appear to meet the FSA’s desire to see a competitive market.
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