What we do
The Asset Management Sector team is concerned with the investment management of funds and customer portfolios and related processes (such as administration; custody; outsourcing; trade execution and stockbroking). We mainly deal with asset managers; operators and depositaries of collective investment schemes; private client investment managers and hedge fund managers.
We immerse ourselves in the issues affecting this Sector - to identify, assess and mitigate the major risks that might arise. We need the industry to work with us to identify issues as early as possible To make this happen we provide a point of contact for the industry and their concerns. In addition, we frequently meet relevant trade associations and senior industry figures.
We are developing the knowledge of FSA employees who interact with asset management firms. Finally, we have a strategic oversight of European and international issues and our sector leader represents the FSA on the Committee of European Securities Regulators Investment Management Expert Group and International Organisation of Securities Commissions standing committee on investment management ("SC5").
Core sector team objectives
To establish an effective framework for identifying and resolving issues in the sector that pose a risk to FSA objectives.
Effective gathering of intelligence from trade bodies, industry contacts and internal sources.
Effective and timely publication of the sector’s work through:
- the Financial Risk Outlook and Business Plan,
- speeches and interviews.
Effective commissioning of thematic work.
Effective influence on firm supervision.
To ensure the FSA has the technical expertise to deliver sector priorities
To improve depth and breadth of expertise on asset management by developing:
- an asset management curriculum;
- training programmes/seminars/workshops; and
- external and internal secondments
To make sure the FSA is represented effectively domestically and internationally on sector issues.
Effectively represent the FSA on the Committee of European Securities Regulators Investment Management Expert Group and International Organisation of Securities Commissions standing committee on investment management ("SC5").
Effectively brief FSA senior management for speeches, articles and interviews.
To achieve a good dialogue with the sector and improved awareness of risks through:
- effective relationships with relevant trade bodies (including the Alternative Investment Management Association; the Association of Investment Trust Companies; the Association of Private Client Investment Managers and Stockbrokers; the Investment Management Association; the National Association of Pension Funds and the Pep and ISA Managers Association); industry forums, consultants, industry service providers.
- an annual conference, a biannual trade body forum and bi-lateral meetings with senior management of firms.
To ensure that FSA actions are coherent.
To significantly influence policy work that has a strong sector dimension.