Woodford affair to spark FCA review of ACD market - reports

Following scrutiny of Link Asset Services

Mike Sheen
clock
FCA last reviewed ACDs as part of 2017 Asset Management Market Study
Image:

FCA last reviewed ACDs as part of 2017 Asset Management Market Study

The suspension of the Woodford Equity Income fund is set to spark an industry-wide review of authorised corporate directors (ACDs) headed up by the Financial Conduct Authority (FCA), following scrutiny of their role in the scandal by politicians, regulators and industry executives.

Woodford's ACD Link Asset Services is currently being scrutinised by the FCA, amid monthly discussions over the liquidity of the fund since February, with the regulator now writing to other ACDs to inform them of a market review, according to the FT. Woodford Equity Income sell-off tops £800m - reports The Investment Association (IA) has written to members informing them of the growing regulatory scrutiny, with chief executive Chris Cummings noting in an email that ACDs are "entering a period of further regulatory focus". Cummings has invited the ACDs to a roundtable, which will "d...

To continue reading this article...

Join Investment Week

  • 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 Regulation

Index providers have become “increasingly influential”.

SEC considering treating index providers as investment advisers

No longer 'data providers'

Elliot Gulliver-Needham
clock 17 June 2022 • 1 min read
JB Beckett

JB Beckett: Competition and the future of financial services

Not such a 'British Bang'

JB Beckett
clock 16 June 2022 • 4 min read
MPs said that there will be opportunities to seek regulatory simplification while being mindful of continued compliance with global standards.

MPs warn government against weakening of financial regulation standards

Opportunities for simplification

clock 15 June 2022 • 2 min read
Trustpilot