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The Financial Conduct Authority (FCA) is looking for industry suggestions on how asset managers may innovate, support investors, and increase competition.
The Financial Conduct Authority (FCA) is looking for industry suggestions on how asset managers may innovate, support investors, and increase competition.
A discussion paper also discusses how the FCA's rules should be streamlined and enhanced to assist firms in providing better support to retail and wholesale investors, including overseas investors.
The discussion paper, titled 'Future Regulatory Framework,' proposes to strengthen asset management regulation for UK corporations that jointly manage over £11 trillion in assets.
According to the regulator, it seeks to implement a modern system that is adapted to the UK market and consumer needs, including technological advancement and innovation.
"We want a UK wholesale market that supports the economy and is open to innovation while keeping consistent with high standards of consumer protection and market integrity," said Camille Blackburn, FCA's director of wholesale buy-side.
The UK market regulator is interested in hearing from a diverse variety of stakeholders regarding how the regulator can improve existing rules and what should be prioritised to benefit consumers, businesses, and the global economy as a whole.
The FCA has not executed any proposals at this stage.
By fLEXI tEAM