FCA urges groups to adopt 'remediation measures' as review finds failings in post-Brexit property turmoil
Will review whether regulatory change required
The FCA found did not adequately plan for valuing their property portfolios under stressed market conditions
The Financial Conduct Authority (FCA) has criticised fund managers, providers and depositories for their handling of the liquidity crisis that hit the £35bn open-ended UK commercial property sector in the wake of the 2016 referendum on EU membership.
In its review of property funds and liquidity risks, released today, the FCA found failures in planning, communication, policies and procedures, which it said required "remediation measures" to ensure...
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