The UK’s Financial Conduct Authority (FCA) announced a consultation on a proposed approach to changing the regulatory framework for alternative investment fund managers (AIFMs) in the UK. The Call for Input (CfI) is being jointly conducted with the finance ministry.
It is intended to give stakeholders clarity about the intended direction of the reforms and an opportunity to comment before the authorities make detailed rules and guidance for consultation, which targets managers of alternative investment funds and the organizations that provide services to them, among others.
The HM Treasury said that its consultation was launched to simplify regulation for alternative investment fund managers, and that changes are expected to save asset managers time and money, while enhancing the UK’s appeal for capital management.
Simon Walls, interim executive director of Markets at the FCA, said in a statement: “We want rules, better tailored to UK investment managers. These could allow them to operate more efficiently, further supporting competition, competitiveness and economic growth. It’s part of our wider work to streamline the regulatory regime for asset managers, to support the continued competitiveness of our world-leading financial services as outlined in our new strategy.”