The UK’s Financial Conduct Authority (FCA) released a Discussion Paper (DP23/2: Updating and improving the UK regime for asset management) in February 2023 which recognises that, as a consequence of Brexit, it is time to consider what the shape of the UK’s asset management regulatory regime will take in the future.
1. Non-financial misconduct – FCA guidance expected
It is anticipated that in 2023 the Financial Conduct Authority (FCA) will provide further guidance on the increasingly uncertain question of what kinds of “non-financial misconduct” may be relevant to an assessment of a regulated individual’s “fitness and propriety”. “Fitness and propriety”
British start-ups in the financial sector enjoy more freedom – is that better?
Innovative providers of financial services in Great Britain are allowed into the sandbox: In the “Regulatory Sandbox”, such undertakings can test their business models in the market under less stringent regulatory supervision before becoming obliged to fulfill stricter regulatory requirements. In Germany,