The U.K.'s financial watchdog will launch a market study on money management next year, looking at the fees paid by investors and what drives those fees.
The Financial Conduct Authority said in its business plan for 2015-2016 that the scope of the market study will be developed this year. “These will be set out in a terms of reference document that will be published when the study is formally launched.”
A spokeswoman for the FCA said work on the study is due to begin in the first quarter of 2016. The end date is yet to be confirmed, according to the business plan.
The U.K. retirement sector is highlighted in the plan, with an acknowledgement that budget reforms will increase the number of options that defined contribution participants have to provide an income in retirement.
This, combined with continued automatic enrollment, mean “the pensions market will remain a priority area for us,” said the FCA's business plan.
The FCA said it will undertake a “thorough review of our rules in the pension and retirement area, including the new retirement risk warnings.”
Dark pools will be a further focus for the FCA. It plans to conduct a thematic review of conflicts of interest in the anonymous trading venues.