FCA proposes streamlined rulebook saving asset managers £128m

FCA proposed reforms to tailor asset management requirements, projected to save firms £128m annually.

Reforms would simplify Fund Reporting for Asset Management Entities (FRAME) and modernise obligations proportionate to UK industry. The change reduces compliance costs but requires transition planning and updates to supervisory data pipelines.

Material shift in asset management regulatory obligations affecting reporting, cost base and supervisory engagement.

Structural rulebook reform with quantified cost impact and broad sector applicability.

“The FCA proposed reforms tailoring requirements for asset managers, with a large share of £128m-a-year savings from simpler Fund Reporting for Asset Management Entities (FRAME) requirements.”