Regulatory Alerts2017-06-27
Added · Updated
PS18/8: Implementing asset management market study remedies and changes to our Handbook
The Financial Conduct Authority introduces final rules requiring UK Authorised Fund Managers to assess fund charges against overall service value and report annually, and to appoint at least two independent directors comprising 25% of their board. Final rules mandate that managers repay risk-free profits earned from dealing as principal in dual-priced funds back into the fund, while recast guidance removes the need for individual investor consent to move investors to cheaper, identical share classes. These governance and pricing remedies take effect on 30 September 2019, with box profit rules effective from 1 April 2019.
More like this from FCA
FCA published 5 documents in the last 30 days. We email you each new one the day it's published.