FCA quizzes asset managers on market abuse controls

Questionnaires sent to firms

clock • 2 min read

The Financial Conduct Authority (FCA) has taken its first step in a renewed focus on market abuse in the asset management industry, as the regulator looks to expand its risk management expectations of the sector.

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 ...

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