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A golden age for wealth & fund management as regulatory fog clears

by Dylan Lobo on Jun 23, 2014 at 08:16

‘While the industry is operating within a context of greater certainty there are a number of regulatory challenges ahead,’ KPMG investment management regulatory partner Charles Muller said.   

‘Shadow banking is viewed as the next big battleground and greater transparency and consumer protection are the key objectives of regulators. There will be increased pressure on data and reporting with both investors and regulators requiring more meaningful communication from businesses.’

Muller also said the industry would have to be more accountable for performance of its products if it is to fully exploit this opportunity.  

‘Asset managers should also expect the themes of conduct and culture to remain high on the regulatory agenda,’ Muller said.  

‘As we see greater focus on these areas, asset managers will need to take more responsibility over the creation and performance of their products to make sure they don’t fall foul of conduct rules.’

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3 comments so far. Why not have your say?


Jun 23, 2014 at 08:58

Mr Muller is no doubt delighted as to where things stand, depending on matters regulatory for his (presumably) substantial income. As one of the indirect and involuntary contributors to his lifestyle (and that of the tens of thousands involved in the industry of regulation) I must confess to a degree of scepticism.

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Jun 23, 2014 at 09:58

Totally agree PCIAM. This KPMG report appears to be as disconnected from reality as the FSA (FCA) Retail Distribution Review although I confess I haven't read the KPMG one. The clue is in the heading. To describe the wealth industry as being in a "golden age" is simply absurd. Regulators, accountants & legal practices have consistently presided over swathes of market destruction in favour of asset aggregation. The vast array of capital pools are today managed by a relative few. How can the current malaise be described as "golden"? Anyone with a copy of a pre-Big Bang members book may reflect on the diversity that the old market once possessed. The correlation between economic stability, real growth and the market constituents which the market once prided itself on is today pickled by a bigoted large is better approach against an economic landscape that is highly leveraged and job destructive. If that is a definition of "golden age" then someone is living on a different planet to me. The second clue is in the notion that the "regulatory fog" has cleared. Who writes this tosh?

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Jun 23, 2014 at 10:14

I'm not sure he's a heavyweight - Muller-lite perhaps?

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