The new chief executive of the UK’s Financial Conduct Authority (FCA) has been named as Andrew Bailey, the Bank of England’s deputy governor for prudential regulation and chief executive of the Prudential Regulation Authority (PRA).
Legal & General Investment Management (LGIM) has launched a global real estate index fund and announced the imminent launch of an emerging markets government bond index fund.
Baltimore-headquartered Legg Mason Global Asset Management announced Friday that it has acquired majority stakes in EnTrust Capital and Clarion Partners and a minority stake in Precidian Investments, as it seeks to diversify its offering in the face of rising costs.
Platform provider AJ Bell is set to launch its own range of funds after agreeing to acquire a small London-based investment management business for an undisclosed sum.
Delaying the implementation of Mifid II until January 2018 still might not give enough time for the European Securities and Markets Authority (Esma), national regulators, and market participants to make the necessary IT changes, says Esma chair Steven Maijoor.
Firms authorised by the UK’s Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) will have to collectively pay £363m ($518m, €475m) to fund the Financial Services Compensation Scheme (FSCS) in 2016/17, an increase of 13.1% from £319m in 2015/16.
Asset managers across the UK are cautiously optimistic and expect business volumes, fee income, commissions, and investments to rise. They remain, however, acutely aware that their future is very much dependant on global equity markets and global economic conditions, according to PwC.
Source, one of the largest providers of ETFs in Europe, is realigning the responsibilities of its coverage team to keep pace with the fast changing ETF market in Europe.
The Financial Conduct Authority is considering reintroducing limited commission payments for certain retail products.
Ivy Global Investors, the distributor of the Ivy Global Investors Fund Sicav, has expanded its Luxembourg-domiciled Ucits fund range with the introduction three new products.
Chancellor George Osborne is expected to name the new chief executive of the UK’s Financial Conduct Authority (FCA) within the next few weeks.
HM Revenue & Customs loses billions each year as a result of fraud and needs to improve its use of data and analysis to tackle tax fraud, the hidden economy, and criminal attacks, according to a new report.
