Regulatory protection for investors in funds where management of assets is outsourced will be remove...
Regulatory protection for investors in funds where management of assets is outsourced will be removed if the FSA's proposed code of inter-professional conduct is not altered, according to Autif. The proposed code, set out in Consultation Paper 83 published in February, is designed to be a 'light' regime with a large degree of self-regulation because it covers relationships between sophisticated financial businesses well able to protect their own rights. However, under the current wording, CP83's scope would include the relationship between a fund manager and the asset manager to which ...
To continue reading this article...
Join Professional Adviser for free
- 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