NCI, a boutique asset management think tank, is calling for the development of a UK fund structure that could compete with UCITS and AIFs in Asia-Pacific (APAC), in order to strengthen the global distribution footprint of UK funds and their position in the region.
While it may well be clear to the UK fund industry and its regulator what went wrong with the Woodford Equity Income Fund, to date, very little has been proposed to correct matters and prevent a repeat, writes Jan Wagner…
New FCA regime’s failure to include appointed representatives is an oversight, saysSturgeon Ventures
The Senior Managers & Certification Regime that comes into effect today (9 December) is a positive step for the financial services industry – but its failure to include Appointed Representative Firms (ARFs) and their individuals is an oversight, according to Sturgeon Ventures, a regulatory incubator.
Well over half of asset managers at financial services firms (58 per cent) say that recent industry regulations have resulted in their organisation either investing in new technology or bringing in a third party to help meet new data management requirements.
With the FCA’s Policy Statement PS18/8 due to come into effect from 30 September 2019, Authorised Fund Managers (AFMs) will need to publish Assessment of Value reports from the end of January 2020 (within four months of their funds’ year-end).
A survey conducted on preparation for the FCA’s Senior Managers and Certification Regime, (SM&CR) has revealed that most firms have significant work to do, as they prepare for its extension to all authorised firms on 9 December.
The SEI Master Trust has been granted authorisation by The Pensions Regulator.
Research by global financial services regulatory consultancy Bovill finds that despite the FCA pursuing 19 investigations under the Senior Managers and Certification Regime (SMCR), to date there has been only one successful enforcement action.
Guernsey’s financial services regulator has signed a Memorandum of Understanding with the UK’s Financial Conduct Authority to ensure market access for Guernsey investment funds into the UK after Brexit.
A new Memorandum of Understanding (MoU) signed between Jersey’s financial regulator the Jersey Financial Services Commission (JFSC) and the UK’s Financial Conduct Authority (FCA) should give fund managers added certainty around accessing UK investor capital through Jersey in the lead up to Brexit, according to Jersey Finance and the Jersey Funds Association (JFA).