Market Abuse Asset Management Firms

The FCA has published its thematic review findings on controlling the risk of market abuse in asset management firms – “Asset management firms and the risk of market abuse” (TR15/1).

The review covered 19 asset management firms (of which 17 were subject to a visit) including long-only asset managers, hedge fund managers and an occupational pension scheme; the AuMof the sample firms ranged from £200m to over £100bn.

TR15/1 comments on six specific areas, including personal account dealing and controlling access to inside information, and for each such area provides examples of good practice and bad practice.

The paper is very readable in that the content stretches to only 13 pages and it would certainly be worthwhile a firm putting aside the time to compare its current market abuse procedures and controls with the review’s findings and comments.

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