FCA's Pritchard urges tighter private markets oversight to improve investor confidence

In a speech yesterday (11 May) at the Investment Association's Private Markets Summit 2026, Pritchard acknowledged that there will be turbulence within private markets.  The industry must ensure that "the system can handle it", according to Pritchard.  "In private markets, many problems can be traced back to first-line controls that have broken down – or appear to have done so," the FCA deputy CEO said, in reference to recent instances of US private credit firms opting to cap withdrawals from retail investors.  In February 2026, US private credit giant Blue Owl revealed it had agre...