Bringing you live news and features since 2006 

FCA Asset Management Conference 2013 – PwC’s Rowland comments…

RELATED TOPICS​

Amanda Rowland, partner and head of asset management regulation at PwC commenting on the announcements made at the 2013 FCA asset management conference that took place on 30 October…

No-one in the asset management industry should be surprised at the FCA's focus on the use of dealing commissions. But today the FCA has extended its work to include banks and brokers as well as buy-side firms. Given these institutions have been less involved in the debate on dealing commissions to date, this is likely to cause a stir amongst some firms. 

On fund charges, the FCA may focus less on transparency and more on the governance surrounding decision making. Firms will clearly be expected to have the same regard and controls around spending their clients money as when they spend their own. 

It was refreshing to hear the FCA place emphasis on the importance of the asset management industry to the UK economy and to describe a "measured and proportionate" approach to supervision. Clearly collaboration is the new watchword and the focus on this rather than enforcement and adversarial tactics will be welcome. 

Any firm that does not have appropriate processes in place to meet the FCA's expectations on customer care can expect little sympathy from the regulator. The customer's interests must be at the heart of decisions taken, and senior management and the sales teams are expected to be closely involved rather than compliance being left down to the control functions.

Latest News

21Shares AG has announced that the firm has added staking to the 21Shares Cosmos ETP (ATOM) and the 21Shares Avalanche..
EFAMA has published its latest Monthly Statistical Release for May 2024...
Solactive writes that it has expanded its collaboration with Kiwoom Asset Management by providing the underlying indices to the KIWOOM..
MSCI has announced the launch of MSCI Private Capital Indexes, writing that with growing investor interest in private markets, high..

Related Articles

Scott Kefer, VictoryEx Capital Holdings
Bailey McCann writes that active ETFs are capturing investor interest, according to the latest data from Morningstar, which finds that...
Chris Lo, Columbia Threadneedle
In a recent insight on India by Columbia Threadneedle Investments, the firm reports that the country’s economic reforms, which aim...
With an election on the horizon in the United States a group of ETFs is poised to capture investments on...
Robot worker
Qraft Technologies, based in South Korea, specialises in the use of AI in security selection and portfolio construction....
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by