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Today New City Initiative is comprised of 43 leading independent asset management firms from the UK and the Continent, managing approximately £500 billion and employing several thousand people.

Displaying items for Feb 2020

The FCA's priorities for 2020

The FCA's priorities for 2020

On January 20, 2020, the UK’s Financial Conduct Authority (FCA) sent a brief but blunt letter to the CEOs of asset management companies. The regulator did not mince its words. In the letter’s opening paragraphs, the FCA criticised corporate governance standards at asset managers as being unsatisfactory. The regulator then told asset managers that they did not deliver value to retail customers and had failed to invest adequately in their operational resilience and technology, which it said “could cause harm to market integrity or loss of sensitive data.” This warning shot from the FCA should not be taken lightly by…

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