Regulation

Innovation and competition are at the heart of the UK's vibrant and competitive fund management industry, which is second only to the US.

Asset managers may have to undertake a "root and branch" reassessment of business models amid a wave of European regulation set to trigger "huge upheaval", warns State Street.

Tony Stenning, head of UK retail at BlackRock, looks at the surge of new legislation set to hit UK investors.

Baillie Gifford's James Budden says the RDR is a levelling tool the investment trust sector should welcome.

Jon Pain, formerly managing director of the FSA, will join KPMG as a partner working in its regulatory practice.

China is cutting import tariffs and easing restrictions in an attempt to re-balance its trade policy, says US Treasury Secretary Timothy Geithner.

The recent judgement by the Financial Ombudsman against Meteor may have just looked like yet another ruling against another structured investments provider related to Lehman, but the potential consequences of the ruling could be far wider reaching.

Some of the biggest names in financial services, including Cazenove CEO Andrew Ross and Peter Hargreaves, are calling for a "full and independent" inquiry into the collapse of Keydata to ensure similar failures are avoided in the future.

The Investment Management Association (IMA) has confirmed it is leading efforts to shore up troubled Keydata-backer Lifemark, as part of a bid to recoup the fund management sector's £233m FSCS bill.

The Treasury has confirmed the RDR will not impact upon the ability of firms based in Europe to advise clients in the UK, although it insists the use of passporting to evade regulation will not be permitted.