FCA quizzes asset managers on market abuse controls

Asset managers have recently been contacted by the FCA, according to PA's sister title Investment Week sources, which sent them a questionnaire examining their risk management procedures in reporting and preventing market abuse. It follows a 2015 paper, Asset management firms and the risk of market abuse, which found "only a minority of firms had appropriate controls", particularly in areas like receiving insider information and post-trade surveillance. The work also follows the July 2016 introduction of Market Abuse Regulation (MAR), which expanded the obligations of regulated firms ...