The CMA published its final order in June 2019 which outlined a series of recommendations to combat “an adverse effect on competition from which substantial consumer detriment may be expected”. Among these was a requirement for mandatory tendering, disaggregation of fees, greater fee transparency and performance reporting standards.
We took part in the Professional Pensions’ Pensions and Benefits UK Conference on 25 June. BMO’s Christy Jesudasan and David Hickey gave their insights into the CMA review on the fiduciary management industry. The attached presentation used in the session outlined the proposed recommendations, the Pension Regulator’s expectations of trustees and upcoming themes in the market.