FCA finds most fund managers falling short on value assessments portfolio-adviser.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from portfolio-adviser.com Daily Mail and Mail on Sunday newspapers.
All UK funds have an AFM, who is separate from the manager and must ensure the fund complies with FCA rules.
Link is being sued by savers who say it should have kept Woodford (pictured) on a shorter leash.
The FCA said AFMs failed to focus on risks posed to investors by inappropriate or poor value funds.
Some referred to funds as if they were solely operated by the third-party manager, the FCA said, and did not mention their own responsibilities.
Sheldon Mills, at the FCA, said: Some firms are not sufficiently meeting FCA standards and we want to see significant improvement.
UK Financial Conduct Authority Review Finds Weaknesses In Some Host Authorised Fund Management Firms Governance And Operations mondovisione.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondovisione.com Daily Mail and Mail on Sunday newspapers.