FCA updates on plans for asset management sector

Ashley Alder, FCA Chair, has a delivered a speech on the FCA’s agenda for the UK asset management sector. Key highlights include that FCA:

  • wants to ensure that feedback from all stakeholders, including from their new Cost Benefit Analysis Panel, is fed into its approach to the future of the sector;
  • plans on using the Smarter Regulatory Framework (SRF) to modernise asset management regulation to meet the needs of the UK market, effectively interacting with other jurisdictional requirements to reflect the sector’s global nature;
  • plans to use the repeal and replacement process of assimilated EU law to make the regulatory environment more proportionate for AIFMs;
  • is undertaking domestic supervisory work in relation to valuations with regard to the Non-Bank Financial Intermediation sector; and
  • wants to encourage a consistent international approach to develop sustainability disclosure requirements rules.

The FCA Handbook will be kept under review to stay aligned with developments regarding fund tokenisation.

Harry Wells