FCA to Reign in £7 Trillion Asset Management Industry in the UK

[kreslik.news]

The UK Financial Conduct Authority (FCA) is outlining a list of some new remedies that it is proposing to regulate the asset management market. The new framework has been agreed upon after several months of consultations with industry participants and clients.

The UK asset management industry is currently looking after £7 trillion ($9 trillion) and is introducing some new rules that existing products from retail brokers like IG Group are already implementing.

Commenting on the news, the CEO of the FCA, Andrew Bailey, said: “The asset management sector is important to the economy, managing the savings of millions of people and in ... (read more)