Investment - Articles - PwC comment on FCA's plan for asset & wealth management

 “The FCA continues to aspire to a sustainable model of regulation, which will encourage industry led initiatives and challenge regulations where the costs outweigh the benefits. Firms will welcome the news that part of this focus will entail a review of existing rules to determine whether any can be removed or redrafted to bring them into line with current market practices.

 "In the context of the asset and wealth management industry, no new initiatives have been announced, but a number of FCA 2016/17 priorities, and existing work, will continue to focus on the sector. Perhaps the most eagerly anticipated are the results of the market study and the potential market changes that could arise from the report.

 “The asset and wealth management sector faces a busy year ahead with FCA MiFID II implementation becoming clearer, further details of the application of the Senior Managers Regime and the implementation of the Fair and Effective Markets Review (FEMR) recommendations. In addition, the risks associated with new technology cannot be ignored and the prevention and detection of cyber-attacks must remain a focus.”