United Kingdom: Financial Sector Assessment Program-Fund Management and Equity Trading Platforms: Regulation, Supervision, and Systemic Risk Monitoring-Technical Note

IMF Staff Country Reports, June 17, 2016

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Canonical URL: United Kingdom: Financial Sector Assessment Program-Fund Management and Equity Trading Platforms: Regulation, Supervision, and Systemic Risk Monitoring-Technical Note

Reviews the effectiveness of the regulation, supervision, and systemic risk monitoring of investment funds and their managers.
Notes that the United Kingdom has the largest fund management market in Europe and is a key host for some of the most important European equity trading platforms.
Observes that a significant proportion of the regulatory framework in this area, in particular that related to conduct of business and disclosure requirements, has been harmonized at the EU level and is largely in line with the relevant international standards.
States that the Financial Conduct Authority has the primary responsibility for the regulation and supervision of fund management and equity trading platforms.

Regulation
- Emphasis on conduct of business and disclosure requirements.
- Harmonization at the EU level is highlighted as a major feature of the regulatory framework.
Supervision
- The Financial Conduct Authority (FCA) is identified as having primary responsibility for regulation and supervision of fund management and equity trading platforms.
Systemic risk monitoring
- The paper addresses systemic risk monitoring as it pertains to investment funds, their managers, and equity trading platforms hosted in the United Kingdom.