FCA: Managers 'undermine' value assessment process by basing fees off competitors

In its review of processes of assessments of value the FCA said managers have a "better understanding" of the rules compared to last year's review, and found they have "significantly improved" their value assessment processes. Consumer Duty: FCA finds some firms do not pass fair value test More specifically, the 14-firm wide review between November 2022 and March 2023 found that most companies make fewer assumptions within their analyses that they cannot evidence as reasonable, and present higher quality information to their boards and assessment of value committees. This relates t...