City watchdog eyes rules overhaul for UK asset managers

cityam07-14 21:22

The FCA is overhauling the old system The UK’s financial watchdog has proposed a host of reforms aimed at simplifying reporting for asset managers and end industry confusion over complicated ...

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Industry critics have argued AIFMD rules are overly complex and outdated, deriving back to EU regulations rather than serve the UK market.Under AIFMD, asset managers are required to complete numerous data fields covering portfolio concentration and risk profiles. FRAME simplifies this process by replacing the data field w","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"FCA":"First Trust China AlphaDEX Fund","NAV":"纳威司达","BK4211":"区域性银行","BK4588":"碎股","PFI":"Invesco Dorsey Wright Financial Momentum ETF","BK4585":"ETF&股票定投概念","VFH":"Vanguard Financials ETF","CHCO":"City Holding Company"},"translate_title":"伦敦金融城监管机构关注英国资产管理公司的改革规则","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NAV":1,"FCA":1,"PFI":1.5,"CHCO":1.5,"VFH":1.5},"content_text":"The FCA is overhauling the old system The UK’s financial watchdog has proposed a host of reforms aimed at simplifying reporting for asset managers and end industry confusion over complicated regulations.The Financial Conduct Authority (FCA) said the modernisation of the rules will tailor requirements for asset managers, cut costs for firms and provide better data for the sector, saving managers £128m a year.It confirmed the majority of savings are expected to come from a recommended new framework dubbed Fund Reporting for Asset Management Entities (FRAME).It aims to modernise the current Alternative Investment Fund Managers Directive (AIFMD) framework which has rules dating back to 2013. Industry critics have argued AIFMD rules are overly complex and outdated, deriving back to EU regulations rather than serve the UK market.\n\nUnder AIFMD, asset managers are required to complete numerous data fields covering portfolio concentration and risk profiles. FRAME simplifies this process by replacing the data field with consolidated datasets that monitor wider market risk.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSimon Walls, executive director of markets at the FCA, said: “By tailoring the regime for UK asset managers, we can collect better data while also saving the industry tens of millions of pounds a year. “With a sharp focus on proportionality, we can particularly boost freedom for smaller firms.”ProportionalityThe new framework also defines a firm’s size based solely on net asset value (NAV).\n\nFirms with NAV under £750m are given lighter rules and minimal paperwork in contrast to firms with over £5bn who will be subjected to rigorous scrutiny as they have a higher potential of impacting the wider economy.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.45.2","shortVersion":"4.45.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2651330104","isCrawlerRequest":true}