Consultation description
This consultation sets out the government’s proposal to amend a key area of assimilated law - the regulations applying to managers of Alternative Investment Funds. The government has identified opportunities to streamline these regulations with the aim of making it simpler and cheaper for most asset managers to do business in the UK, increasing the UK’s attractiveness as an asset management hub and contributing to its mission to deliver economic growth. The consultation seeks to gather insights and feedback on the proposed regulatory changes.
The consultation proposes simplifying the Regulatory framework for Alternative Investment Fund Managers, while retaining core consumer and market protections. It also proposes removing detailed, firm-facing requirements from legislation, in line with the UK’s established model for financial services regulation and enabling the Financial Conduct Authority (FCA) to create a more proportionate and streamlined regime for fund managers, ensuring rules are properly tailored to the nature and scale of a firm’s business.
This consultation is accompanied by an FCA Call for Input, setting out their proposed approach to the detailed rules for Alternative Investment Fund Managers, on the basis of the government’s proposals. Both papers will be of interest to managers of Alternative Investment Funds and trade associations.
