The Financial Conduct Authority has published a call for input on reforms to the UK’s regime for alternative asset managers, aiming to create a more streamlined and proportionate framework intended to reduce barriers to entry and support firms’ ability to grow, compete and innovate while maintaining effective risk management and appropriate consumer protection. The proposals sit alongside the Government’s consultation on bringing into effect provisions that repeal the firm-facing legislative requirements of the EU-derived Alternative Investment Fund Managers Directive (AIFMD). Where appropriate, the FCA would replace repealed provisions in its rulebook and is also considering changes to its existing AIFMD rules. In collaboration with the Treasury, the FCA is exploring bespoke regimes for investment trusts and venture capital firms, reflecting the distinct characteristics of those sectors. The FCA asked for comments on the proposals by 9 June 2025 and plans to consult on detailed rules in the first half of 2026, subject to feedback and Treasury decisions on the future regime.
Financial Conduct Authority 2025-12-05
UK Financial Conduct Authority launches call for input on streamlined replacement regime for alternative asset managers under post-AIFMD reforms
The Financial Conduct Authority (FCA) seeks input on reforms to the UK's regime for alternative asset managers to streamline the framework and reduce entry barriers while ensuring risk management and consumer protection. The proposals align with the Government's consultation on repealing EU-derived AIFMD requirements, with the FCA considering rulebook replacements and changes to existing rules. The FCA is also exploring bespoke regimes for investment trusts and venture capital firms with the Treasury.