Dear CEO – FCA looks to private markets in asset management letter
The FCA appears to be using Dear CEO letters quite liberally at the moment.
There have been two most recently addressed to:
On the latter, this letter marks an interesting shift in the FCA’s focus towards
On 5 March 2025, the Financial Conduct Authority (FCA) published its detailed findings from its multi-firm review of valuation processes for private market assets.
Background
The FCA sees good valuation practices as key to maintaining fairness and confidence as the private market grows. There is also global interest in valuation practices in private
In this article we look at key regulatory topics for 2025 that will have a significant impact on institutions operating in the UK financial services space. We have not attempted to list every single reform expected this year but rather pick out the top reforms in both the wholesale and retail space, as well as
To all of our global readers we would like to take this opportunity to wish you all a Merry Christmas and a Happy New Year.
We will resume posting material following the festive period on 7 January 2025 although if there are any significant developments we will endeavour to provide an update.
On 14 November 2024, the Chancellor of the Exchequer, Rachel Reeves, delivered her first Mansion House speech.
The headlines from the speech include that the government will:
I wanted to make some brief comments on CP24/21 relating to investment research payment optionality for fund managers. The punchline is that the FCA is going to take the same line in liberalising the regime for fund managers as it has for investment managers of segregated portfolios. This will apply not just to unregulated AIFs
Market Watch 81 might on a first pass appear relatively uncontroversial in giving feedback on the FCA’s recent findings on transaction reporting. I would say that one should think again on this and suggest that there is a lot of food for thought here.
The basics on the Market Watch are set out in our
On 7 November 2024, the Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2024 were laid before Parliament and published on legislation.gov.uk, along with an explanatory memorandum.
The Regulations make consequential amendments resulting from the commencement of provisions in (or made under) the Financial Services and Markets Act 2023 (FSMA 2023).
In the latest Global Regulation Tomorrow Plus episode, Jonathan Herbst, Hannah Meakin and Anita Edwards discuss some of the key issues concerning the UK regime for payment for order flow.
Listen to the episode here.