FCA quizzes asset managers on market abuse controls

Questionnaires sent to firms

Mike Sheen
clock • 2 min read

The Financial Conduct Authority (FCA) has taken its first step in a renewed focus on market abuse in the asset management industry, as the regulator looks to expand its risk management expectations of the sector.

Asset managers have recently been contacted by the FCA, according to Investment Week sources, which sent them a questionnaire examining their risk management procedures in reporting and preventing market abuse. LGIM whistleblowers accuse firm of 'toxic' risk culture and compliance failures - reports It follows a 2015 paper, entitled Asset management firms and the risk of market abuse, which found "only a minority of firms had appropriate controls", particularly in areas like receiving insider information and post-trade surveillance. The work also follows the July 2016 introduction ...

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