Image:
The regulator's call to action follows repeated warnings from the Bank of England
Asset management firms must "act now" and take "immediate action" to shed themselves of exposure to LIBOR-linked investments and benchmarks before the rate ceases to exist at the end of 2021, the Financial Conduct Authority (FCA) has warned.
In a 'Dear CEO' letter published this morning (27 February), the FCA's head of asset management supervision Nick Miller told firms they are responsible for taking "proactive steps" and building transition...
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
