Firms’ operations a concern for FCA
In a recent address to the asset management industry, the FCA found ineffective governance to be a root cause for asset managers failing to mitigate material risks. Particularly, the regulator is concerned about operational and financial resilience.
Its latest ‘Dear CEO’ letter stressed how an underinvestment in operations can strain innovation and efficiency, and increase cost, which would consequently impact investors and markets.
Particular concerns are the respondent rate on material operational failures and cyberattacks, which need to be reported imminently.
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Categories: NewsESGESG policyESG regulationRegs & ComplianceRegulatory update
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