Sat, Apr 20, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

UK FCA proposes "combination of sunlight and governance remedies" for asset management

Tuesday, November 22, 2016

Benedicte Gravrand, Opalesque Geneva:

The UK’s Financial Conduct Authority (FCA) has published the interim findings of its asset management study and has proposed a package of remedies to make competition work better, and protect those least able to actively engage with their asset manager.

According to law firm Simmons & Simmons, the remedies include:

  • a strengthened duty on asset managers to act in the best interests of investors
  • requiring clearer communication of fund charges and their impact at the point of sale and in communication to retail investors
  • requiring increased transparency and standardisation of costs and charges information for institutional investors
  • introducing an all-in fee to make it easy for investors to see what is being taken from the fund
  • measures to help retail investors identify the most appropriate fund
  • exploring with government the potential benefits of greater pooling of pension scheme assets, and
  • recommending that HM Treasury also considers bringing the provision of institutional investment advice within the FCA’s regulatory perimeter.
The FCA is also consulting on whether to make a market investigation reference to the CMA ......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1