The Financial Conduct Authority (FCA) is increasing its scrutiny over alternative asset management firms, with retail client exposure ahead of new risk warning rules set to come into force in December.
The watchdog's PS22/10 policy statement will aim to strengthen the financial promotions rules for high-risk investments, improve marketing restrictions and place higher standards on alternative managers. In a letter to alternative asset management chief executives outlining the watchdog's alternatives supervision strategy for 2022, Nike Trost, head of department for asset and pensions policy at the FCA, urged firms to amend their business practices in line with the new obligations. The main risk warning rules will come into force on 1 December 2022, with the remainder landing on 1 F...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
