The Financial Conduct Authority and HM Treasury set out plans to reform the rules regulating alternative asset managers on Monday (7 April), in a move to streamline the sector and cut red tape.
They explained the changes will include an overhaul of the alternative investment fund managers (AIFM) regime inherited from EU regulation, including the AIFM directive (AIFMD), in a bid to allow these firms to "operate more efficiently" worldwide, while also encouraging "effective risk management". This "lighter tough" approach was welcomed by industry bodies, which commended the FCA and HMT for "streamlining the regulatory regime" for investment managers to create "a more proportionate and competitive regulatory framework", said Chris Cummings, CEO of the Investment Association. FCA...
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