Financial Services
(asked on 27th January 2020) - View Source
Question to the HM Treasury:
To ask Her Majesty's Government what plans they have to review the effectiveness of authorised corporate directors of open-ended investment funds in providing investor protection.
Answered by
Earl of Courtown
Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords)
The government is committed to ensuring that the UK has a robust framework for financial regulation and that consumers are treated fairly. The FCA is responsible for overseeing the conduct standards of financial services firms.
‘Host’ Authorised Corporate Directors (ACDs) are Authorised Fund Managers which are not within the group structure of the delegate investment manager. The FCA is currently reviewing how effectively ‘host’ ACDs undertake their responsibilities. The FCA expects to complete this work in the first half of 2020.