FCA sets out ideas for post-Brexit rules of UK asset management sector

Discussion paper published today

The Financial Conduct Authority has published a discussion paper in which it lays out ideas on potential changes in the regulatory framework of the UK's £11trn asset management sector.

Published today (20 February), the discussion paper is seeking views from funds, advisers, investors and other stakeholders about the current UK regime for regulating funds and asset managers. Feedback will help shape the regulator's approach to rule-making under the new regulatory framework for financial services, which is set to repeal EU-retained law and replace it with rules specific to the UK under the FCA.  Ideas set out in the paper include creating a common framework of rules for asset managers, changing the boundary of the UK UCITS regime, removing or modifying prescriptive r...