Regulator to cut fund authorisation times

The Financial Conduct Authority (FCA) has committed to cutting fund authorisation times for UCITS and other fund structures by April 2014.

Speaking at the FCA's Asset Management Conference in London last week, FCA director of supervision Clive Adamson said 90% of UCITS authorisations would be completed within six weeks as of next April. He also pledged to cut authorisation times for non-UCITS retail schemes to three months as of the same date. The FCA plans to cut this further, to two months, by April 2015. Adamson said the waiting period for Qualified Investor Schemes would also be cut, to two months as of next April and to one month as of April 2015. "We have committed to speed up the fund authorisations process so ...