The City regulator, the Financial Conduct Authority, on November 18 published the key parameters for its review of the UK's £6.6 trillion asset management market and confirmed it will cover both retail and institutional investors, as it gave market participants a month to give their views.

The breadth and scale of the FCA's review into the sector is extensive-the regulator will delve into fee transparency, industry competition and barriers to entry, profitability, as well as the efficiency of the value chain. It will also examine whether there are any barriers to innovation or technological improvements which are standing in the way of improving value for investors.