The GRC Navigator

Issue 25

The second half of July belonged to the asset management industry, and to a major overhaul of its rulebook. The FCA’s package to reform the UK regime for alternative investment fund managers, opened on 14 July and running live through the fortnight, dominated the agenda. It proposes to replace AIFMD-derived rules dating from 2013 with a tailored, proportionate framework, cut roughly £128m a year of industry cost through simpler fund reporting, and modernise remuneration rules, with consultation deadlines landing across September and October. For a sector that oversees close to £2 trillion in alternative assets, this is a major reset.