FCA takes aim at ACD market amid governance failings and conflicts of interest

Mike Sheen
clock • 3 min read

The Financial Conduct Authority (FCA) is considering new rules for the authorised corporate director (ACD), or "host authorised fund manager" (AFM), market, after a review of the sector found failings across governance, conflict of interest management and operational controls. A report published today (30 June) by the regulator called for improved standards in the market, where it found a number of firms failing to meet regulatory standards, and warned that the FCA is ready to intervene if progress is not made. The review, which surveyed a sample of firms in the year to Q4 2020, targe...

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