FCA sets out 'reduction and simplification' of Assessment of Value requirements

AFMs to have 'greater flexibility'

The Financial Conduct Authority has published a consultation paper looking to “reduce and simplify” Assessment of Value (AoV) requirements for firms.

Under the proposals, the regulator is looking to eliminate the "detailed reporting requirements" in favour of a general requirement for authorised fund managers (AFMs). In a call for input last year, some firms lamented the annual publication requirements associated with costs that "outweigh the benefits", while also highlighting the "low investor engagement" with the reports. UK regulator to consult on Assessment of Value reporting changes for asset managers However, the FCA said it intends to keep the current annual publication requirements to "maintain accountability and provide...