UK regulator launches fund manager authorisation hub

The UK’s Financial Conduct Authority (FCA) has launched an “authorisation hub” which aims to support start-up firms in the asset management industry.

The aim is to make it easier for firms to understand how the FCA works, make a complete submission, and move from the authorisation to supervision regime.

It will offer new firms pre-application meetings, dedicated case officers and access to a new website portal.

The FCA claims that the new hub will not lower entry standards to the market and entrants will need to meet the same rigorous standards as current firms before they receive authorisation.

Megan Butler, the FCA’s executive director of supervision, said: “We want to aid new entrants to the market and the hub will help new firms understand us better as an organisation.”

The FCA currently regulates more than 3,000 asset managers and approved 300 new firms in 2016.

Further phases of the hub will be rolled out throughout 2018 and will feature open days and surgeries for firms.

©2017 funds europe

HAVE YOU READ?

THOUGHT LEADERSHIP

The tension between urgency and inaction will continue to influence sustainability discussions in 2024, as reflected in the trends report from S&P Global.
FIND OUT MORE
This white paper outlines key challenges impeding the growth of private markets and explores how technological innovation can provide solutions to unlock access to private market funds for a growing…
DOWNLOAD NOW

CLOUD DATA PLATFORMS

Luxembourg is one of the world’s premiere centres for cross-border distribution of investment funds. Read our special regional coverage, coinciding with the annual ALFI European Asset Management Conference.
READ MORE

PRIVATE MARKETS FUND ADMIN REPORT

Private_Markets_Fund_Admin_Report

LATEST PODCAST