Investment Management (Fiduciary Duties) Bill

Key Points

• Introduces a fiduciary duty for investment managers to act in the best interests of investors, including pension savers.
• Requires transparent and accountable decision-making and clear disclosure of conflicts of interest.
• Covers a range of players, such as asset managers, fund managers, investment advisers, trustees and employers running workplace pensions.
• Strengthens protections for pension savers and other investors by improving governance and accountability.
• Sets out enforcement and oversight mechanisms to ensure compliance.

Progress

The bill is at the 2nd reading in the House of Commons, where MPs debate its general principles. It has not yet moved to the committee stage.