The Financial Conduct Authority (FCA) has announced its thematic supervisory plans for 2014 / 15 as a central part of its annual Business Plan published on the 31st March 2014. The supervisory plan contains much that will be of relevance to asset managers.
One of the areas highlighted is Market Abuse. The FCA states that it will continue to increase its thematic supervision across the investment management sector. The regulator highlights a new review of market abuse controls in asset managers, considering how firms ensure trading activity is consistent with the FCA’s expectations of market conduct.
As a results firms should review and update their market abuse risk assessment, ensure controls and management information remain effective and confirm that market abuse training is up to date for all investment management staff.
The FCA business plan of 31/03/2014 can be found here.