CMA proposes definitions in investment consultancy study

CMA has published a consultation paper as part of its review of the investment consultancy and fiduciary management services study. The paper contains draft definitions. The proposals define:

  • “investment consultancy service” and
  • “fiduciary management service”

The paper also notes that other terms, such as “pension scheme trustees” and “interconnected body corporate” will need separate definition. The paper was subject only to a one week consultation period, with comments requested by 9 November, as the CMA aims to publish the final decision in December.