NCI calls on FCA to 'hand-hold' start-up boutique firms

Laura Dew
clock • 1 min read

Think-tank New City Initiative (NCI) chairman Dominic Johnson has called for a dedicated Financial Conduct Authority division to help start-up firms.

In a report released today, entitled 'How regulation is damaging competition in asset management', the organisation looks at the challenges faced when setting up an asset management or wealth firm. Johnson (pictured), who founded emerging market specialist Somerset Capital in 2007, said the FCA can do more to help start-ups. He highlighted that firms with problems are regularly referred to the FCA handbook, rather than being given specific guidance. "We would like an easier dialogue with the FCA, smaller firms just do not have the resources or the capital to deal with the systems. ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Advisory

Transact co-founder and former CEO Ian Taylor dies aged 58

Transact co-founder and former CEO Ian Taylor dies aged 58

Died after a short illness

Jenna Brown
clock 19 October 2022 • 1 min read
The Big Interview: TJ&P's Tim Whiting on becoming the 'One Ham Yard' of London IFAs

The Big Interview: TJ&P's Tim Whiting on becoming the 'One Ham Yard' of London IFAs

Company launched in 1995

Lauren Mason
clock 06 April 2022 • 5 min read
Kingswood acquires South Yorkshire IFA in £1.5m deal

Kingswood acquires South Yorkshire IFA in £1.5m deal

UK assets hit £6.3bn

Jenna Brown
clock 26 January 2022 • 1 min read
Trustpilot