asset management

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On October 9, the Securities and Exchange Commission announced the formation of its Asset Management Advisory Committee.

The committee will provide the SEC with diverse perspectives on asset management and related advice and recommendations. Topics the committee may address include trends and developments affecting investors and market participants, the effects of globalization, and changes in the role of technology and service providers.
Continue Reading SEC Announces the Formation of Asset Management Advisory Committee

On April 20, the UK Financial Conduct Authority (FCA) updated its asset management authorization hub (Hub), which launched on October 16, 2017, as detailed in the Corporate & Financial Weekly Digest edition of October 20, 2017. The updated Hub includes a number of new interactive tools, complementing existing ones, to support firms through the regulatory process.
Continue Reading FCA Adds New Interactive Tools to Asset Management Authorization Hub

On December 6, Her Majesty’s Treasury published a report setting out the UK government’s renewed long-term investment management strategy. This follows the announcement by the UK Chancellor of the Exchequer, Philip Hammond, in his Autumn 2017 Budget on November 22, that the government would be publishing its new strategy to “ensure that the UK asset management industry continues to thrive and deliver the best outcomes for investors and the UK economy.”
Continue Reading HM Treasury Publishes Renewed Investment Management Strategy

On October 16, the UK Financial Conduct Authority (FCA) launched the asset management authorization hub (Hub), a new section of its website. The Hub is designed to support new entrants to the UK asset management industry from start-up, through authorization and into the early stages of supervision.
Continue Reading FCA Launches Asset Management Authorization Hub

On June 28, the Financial Conduct Authority (FCA) published its final report after its asset management market study (Study), which began in November 2015. Alongside the report, the first of a number of related consultation papers was also published. The report and consultation paper follow the FCA’s interim report published in November 2016, which had indicated many of the conclusions and proposed remedies of the report (for further information on the interim report, please see the Corporate & Financial Weekly Digest edition of December 2, 2016).
Continue Reading FCA Publishes Final Report on Asset Management Market Study

On January 12, the Financial Stability Board (FSB) published its policy recommendations (Recommendations) to address risks to global financial stability from structural vulnerabilities associated with asset management activities. The FSB consulted on its proposed recommendations in June 2016, and the FSB has incorporated responses to the consultation addressing specific structural vulnerabilities into the Recommendations. The document sets out 14 final policy recommendations to address the following structural vulnerabilities from asset management activities that could potentially present financial stability risks: (1) liquidity mismatch between fund investments and redemption terms and conditions for open-ended fund units; (2) leverage within investment funds; (3) the operational risks and challenges of asset managers in stressed conditions; and (4) securities lending activities of asset managers and funds.
Continue Reading FSB Publishes Policy Recommendations Relating to Asset Management Structural Vulnerabilities

On November 18, the UK Financial Conduct Authority (FCA) published an interim report on its findings from an asset management market study (Report). The FCA launched the market study in November 2015, focusing on competition in the asset management industry and the ability of retail and institutional investors to get value for money when purchasing asset management services.
Continue Reading FCA Publishes Interim Report on Asset Management Market Study