FCA Takes Tough Stance With Fund Managers

Regulator says investment firms should be thinking about their obligations to retail investors in protecting and growing their capital and keeping costs down

Holly Black 24 January, 2020 | 12:05AM

fca

The Financial Conduct Authority has set out its stall for the year ahead in a letter to chief executives in the investment industry. The regulator’s letter is a reminder of the tough stance it is starting to take on many aspects of the industry. It has warned firms that their duty to act in the best interests of investors must be a priority.

The letter, written by Marc Teasdale, director of wholesale supervision at the FCA, reminded firms they play a “critical role” in the UK economy and in overseeing the savings and investments of millions of individuals. “The sector is growing and changing in significant ways, but its purpose remains unchanged: to protect and grow the capital of its customer and to oversee their investments effectively over the long-term,” he added.

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About Author

Holly Black  is Senior Editor, Morningstar.co.uk

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