Over £165 billion of assets invested in pensions and other large funds are transferred between investment managers, markets and products every year – potentially affecting the returns enjoyed by millions of consumers on their investments – by 13 specialist transition management (TM) providers. Following the Financial Conduct Authority’s (FCA) first review of the sector, firms have today been advised to ensure that their controls, oversight and governance arrangements meet our requirements in all areas. . .

http://www.fca.org.uk/news/transition-management-findings