UK investment firms feeling the heat on prudential rules

Signs firms are falling behind FCA’s expectations on wind-down and liquidity risk management

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Non-bank investment firms in the UK are starting to feel the pressure to match expectations set by the Financial Conduct Authority (FCA) as new prudential rules start to mature, according to four sources. In particular, that could lead to an increase in the amount of liquidity reserves firms hold.

“Firms are playing catch-up on meeting expectations that have always existed, but were never stated as explicitly,” says a senior operational risk manager at a large UK asset manager, referring to the

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