The UK is centre-stage this week and it's largely good news.
This week, I discuss:
- What AIMA makes of the UK's asset management plans.
- The latest on the UK FCA's 'name and shame' proposal.
Toodles!
Drew Nicol, Director, Research and Communications, AIMA
Disclaimer: All views expressed in this blog are my own, not AIMA's.
Good progress, but more work is needed on UK asset management plans
The UK government's proposals to reform the rules for UK alternative asset managers are going in the right direction. However, they need to consider the pressure they could put on smaller managers better.
That's the point AIMA is making in its response today to HM Treasury's consultation paper and the FCA's call for input on the UK Alternative Investment Fund Managers Regulation, the AIFMR.
As the world's largest alternative investment trade body with a thriving membership of sub-$1 billion AUM managers, we welcome the proposals to apply a lighter touch and more proportionate regime to smaller managers. But, the current proposals to bring all managers into a single regime, regardless of size, risk increasing rather than reducing the regulatory burden on them.
The UK has the unique opportunity to enhance and deepen its position as the world's second-largest asset management hub (worth over £14 trillion). Therefore, the UK can put smarter rules in place to protect markets and investors better and promote UK plc worldwide.
Next steps? We look forward to continuing our work with HM Treasury and the FCA as they develop the more detailed proposals expected at the start of 2026.
FCA's Name and Shame proposal is officially dead
We have consistently pushed back against the Financial Conduct Authority's (FCA) highly controversial 'Name and Shame' proposal and even offered constructive options for improving the concept.
Well, the work has paid off. Last week, the FCA dropped the "public interest framework" in its revision of its enforcement guide. It has instead amended its guidance, effectively accepting some of the drafting suggestions in AIMAs' response to the second round of consultation.
Another welcome outcome for the industry and the UK's global competitiveness agenda.
About AIMA:
The Alternative Investment Management Association (AIMA) is the global representative of the alternative investment industry, with around 2,100 corporate members in over 60 countries. AIMA’s fund manager members collectively manage more than US$3 trillion in hedge fund and private credit assets.
