Sep 15, 2017
Week in Review, September 16
Willis Towers Watson, Mercer and Aon Hewitt found themselves under the gun this week, when British financial regulators announced a full-blown competition probe into investment consultants and fiduciary managers, writes Attracta Money in London. The so-called big three of the industry - Willis Towers Watson, Mercer and Aon Hewitt, which control up to 80 per cent of the investment consultancy market - said they would work with the CMA. Investment consultants, which oversee at least £1.6tn in pension and insurance assets, play a vital role in the retirement incomes of millions of people. The £11.7bn bid by 21st Century Fox to seize full control of Sky received a new setback this week, when Karen Bradley, the UK's Culture Secretary, told competition regulators to widen an inquiry into the takeover, writes David Bond in London. There was at least some good news for electric carmaker Tesla this week from an investigation into a fatal car crash. The bad news: the driver who died was able to over-rely on the system, lulling him into a false sense of safety, while the car's warnings to pay more attention to the road failed.
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