Investment - Articles - PwC comment on FCA's plan for asset & wealth management


In response to the publication of the FCA's Risk Outlook and Business Plan, Mark Pugh, UK asset and wealth management leader at PwC, commented:

 “The FCA continues to aspire to a sustainable model of regulation, which will encourage industry led initiatives and challenge regulations where the costs outweigh the benefits. Firms will welcome the news that part of this focus will entail a review of existing rules to determine whether any can be removed or redrafted to bring them into line with current market practices.

 "In the context of the asset and wealth management industry, no new initiatives have been announced, but a number of FCA 2016/17 priorities, and existing work, will continue to focus on the sector. Perhaps the most eagerly anticipated are the results of the market study and the potential market changes that could arise from the report.

 “The asset and wealth management sector faces a busy year ahead with FCA MiFID II implementation becoming clearer, further details of the application of the Senior Managers Regime and the implementation of the Fair and Effective Markets Review (FEMR) recommendations. In addition, the risks associated with new technology cannot be ignored and the prevention and detection of cyber-attacks must remain a focus.” 

Back to Index


Similar News to this Story

Aviva complete buyin for Colthorp Board Mill Pension
The Colthrop Board Mill Pension Scheme has completed a £23m buy-in with Aviva, securing the benefits of 69 deferred members and 152 pensioners. First
A rate cut on the cards and what it means for your money
The Bank of England is expected to cut interest rates next week from 4.75% to 4.5%. The market is pricing in an 84% chance of a cut next week, and the
Call for far reaching approach to modernising redress system
PIMFA has called on the Financial Conduct Authority (FCA) to be ambitious in its proposals to modernise the redress system and look beyond the iterati

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.