The Financial Conduct Authority (FCA) has set up a dedicated fund supervision unit to regulate and monitor individual retail funds.
The team will consist of 15 members and will be headed by Andrew Coulson, who stepped down from a similar role at the Central Bank of Ireland and joined FCA in the first quarter of this year.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The new team will be empowered to scrutinize the products of fund groups and take enforcement action if essential.
In order to minimize risks for consumers, the team will check whether fund objectives are aligned with buyers’ expectations, ensure that charges are properly understood, and pre-emptively identify funds which pose a risk using a data-driven approach.
The team will focus on pre-emptive action but will also work reactively by using customer complaints, whistleblowers, or own internal work.
The team will also be responsible for fund authorization, and intends to further reduce timeframes.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
