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Alternative Market Briefing

UK asset management firms need to improve post-trade surveillance

Monday, April 27, 2015

Komfie Manalo, Opalesque Asia:

The UK Financial Conduct Authority (FCA) recommended, in February that asset management firms consider the frequency and quality of their training around market abuse.

In its April monthly newsletter, global financial service provider Optima Partners said that last February, the FCA published their findings on recent thematic review on asset management firms and the risk of market abuse, and recommended that firms consider having face to face training (instead of on-line training), which encourages discussions of real life scenarios relative to the firm and how the market abuse rules apply in practice.

"Market abuse is perhaps the most significant element of the compliance program and firms need to be watertight for both the regulator and investors," Neil Hughes, Optima Partners head of regulatory services said. He added, "There is therefore clearly both a regulatory and commercial value to this. The FCA will expect firms to read the paper and they will address the points identified within the paper when they visit firms. They will therefore expect senior management at firms to have addressed their concerns as expressed in the paper."

Optima added that a reliance on online training......................

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