FT Article : Shake-up on charges for UK asset managers
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Britain’s financial watchdog will on Wednesday pledge a shake-up of the opaque way asset managers pass costs on to their clients after it uncovered “inherent flaws” in the existing system.
Martin Wheatley, the head of the Financial Conduct Authority, will tell a conference that existing rules on how fund managers spend their clients’ cash are failing to bite effectively and are likely to be tightened.