Asset managers should be allowed to operate globally – Bailey
FCA chief warns against attempts to restrict trade in financial services
Andrew Bailey made a plea for global openness in financial services, particularly asset management, in remarks delivered to the London Business School on April 26.
The UK Financial Conduct Authority chief noted that as in other global industries, asset management supply chains are international. This makes sense as regional managers are likely to have a better understanding of local markets, and as such have authority “delegated” to them.
But it does pose a challenge for regulators, who need
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