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Executive director for consumers and competition at the FCA Sheldon Mills explained that the review "indicates that some firms are not sufficiently meeting FCA standards and we want to see significant improvement in this area".
The Financial Conduct Authority (FCA) is considering new rules for the authorised corporate director (ACD), or “host authorised fund manager” (AFM), market, after a review of the sector found failings across governance, conflict of interest management and operational controls.
A report published today (30 June) by the regulator called for improved standards in the market, where it found a number of firms failing to meet regulatory standards, and warned that the FCA is re...
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