InvestmentsJun 21 2018

FCA hub authorises first firm

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FCA hub authorises first firm

The first firm to receive authorisation and regulatory approval via the Financial Conduct Authority’s (FCA) asset management hub has been revealed.

The firm is Havelock, an asset management business that uses technology to, it believes, make better investment decisions for clients.

The FCA’s asset management hub was launched in October 2017 with the aim of  supporting new new entrants into the asset management market by helping when they apply for authorisation, throughout the authorisation process and afterwards.

According to the FCA the hub had four objectives at launch; to clarify expectations - and support firms with better guidance on regulations and processes; To make information easier to access via a dedicated portal for investment managers on the FCA’s website; To foster better engagement between the FCA and new entrants; and to provide end-to-end support for firms moving through the start-up cycle.

Megan Butler, executive director of supervision for investment, wholesale and specialists at the FCA, said: “The asset management sector is important for the UK economy. We want to aid new entrants to the market and the hub will help new firms understand us better as an organisation.”