Print this article

UK Regulator Lauded For Scolding Asset Managers

Tom Burroughes

27 January 2020

Last week’s “Dear Chief Executive” letter from the to take any necessary or appropriate action following these communications. We will continue our oversight of UK authorised funds. Where we identify potential liquidity issues in funds, including through our regular interaction with depositaries, we will ensure that AFMs take prompt action to mitigate or resolve them,” the regulator said.

“You should ensure that the boards of your regulated entities engage in robust discussion and challenge around important business decisions, without undue reliance on group structures. We also expect you to recognise and take steps to mitigate harm arising from any conflicts of interest between affiliates, most notably between the AFM entity and any delegate investment management entity,” it said.