The FCA’s discussion paper DP23/2, which is open for comment until 22 May 2023, sets out a range of proposals to reform the UK regulatory regime for asset managers and funds. The DP follows the government’s conclusion in December 2022 of its Future Regulatory Framework review and is intended to help the FCA decide how its post-Brexit asset management regime should look once retained EU law has been repealed.

We have published a new briefing note on the DP, in which we consider the proposals and discuss some of the cross-cutting themes for asset managers.