Christopher Woolard (Interim Chief Executive of the FCA) has delivered a speech addressing, among other things, the impact of COVID-19 on capital markets and the investment management industry and the vital role of investment managers in facilitating a post-COVID-19 economic recovery.
Mr Woolard states that: “Overall, the fund management industry showed considerable resilience in the face of volatile market conditions. When material uncertainty over commercial real estate values made it necessary to suspend daily dealing in open-ended property funds, fund managers worked with us to make this happen quickly and safely”. The FCA will consult later this summer on whether long-term investor interests would be better served by finding a way in which open-ended property funds could “safely transition to a structure in which liquidity promises to investors are better aligned with the liquidity of fund assets”.
He also states that investment will be crucial in facilitating the UK’s economic recovery and commits to reviewing the FCA’s regulatory framework and rules to move away from ‘tick-box’ compliance, promote outcomes which better serve the public interest and support the financial system’s recovery following COVID-19.
Speech by Christopher Woolard (Interim Chief Executive of the FCA) on the role of investment managers in facilitating a post-COVID-19 economic recovery
Please see the Brexit section for an item on the European Commission’s updated sector-specific stakeholder preparedness notices, including for the asset management sector.
Are you sure want to delete comment ?
Scan this QR Code to share this content
