With immaculate timing, last Monday saw the New City Initiative thinktank call for the Financial Conduct Authority (FCA) to pay closer attention to smaller firms - hours before the regulator suggested it would do just that as part of a restructure.
New start-ups, the NCI said, “cannot support the financial cost resulting from increasing regulation”. Boutique businesses may be booming, according to the Investment Management Association’s latest annual study of the asset management industry, but getting off the ground in the first place is an increasing struggle, according to the thinktank. However, Sanditon Asset Management CEO Rupert Tyer takes a slightly different view. He believes the issue has been overplayed, and told Investment Week last month there are now many more companies to whom small asset managers can outsource rel...
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