Will the FCA’s response to Link failures change the role of ACDs?
TTF challenges regulator’s claim its Weif enforcement action will raise industry standards among ACDs
ACDs
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Evenlode lines up Marlborough’s IFSL to oversee £5.5bn fund trio
IFSL to become authorised corporate director (ACD)
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Castlefield sells ACD arm to Thesis Unit Trust Management
Firm to ‘focus on a single core business’
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Schroders Personal Wealth appoints Omnis boss to lead ACD arm
Dominic Sheridan takes up newly-created role
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‘In dire need of an overhaul’ – the ACD system post-Woodford
One expert says it ‘feels a pretty low margin business compared to the risk of fines and compensation’
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FCA report highlights failures in ACD market
Weaknesses found in governance structures, conflicts of interest management and operational controls
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Link loses £5bn in assets as Premier Miton brings all ACD activities in house
Asset manager will also be rebranding its fund range following its 2019 merger
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£5bn worth of UK property funds remain suspended despite clarity on valuations
Janus Henderson and Aegon Asset Management funds are unlikely to reopen in 2020
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ACDs update investors locked out of open-ended property funds
Independent valuers will struggle to price underlying assets for the remainder of the Covid-19 lockdown
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Woodford investors to receive 75% of fund value in first payment
Investors remain in the dark about timelines for the illiquid portfolio
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Crux leaves ACD seeking emergency funding after yanking £2bn mandate
Fundrock Partners seeks support from its Luxembourg parent
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FCA probe of external ACDs to focus on commercial conflicts
Smith & Williamson receives a visit from the regulator in aftermath of Woodford
