The Government’s proposals to reform the rules for alternative investment managers can boost the UK’s international competitiveness while maintaining consumer protection and promoting clean and healthy markets, says AIMA.

HM Treasury and the Financial Conduct Authority (“FCA”) have published the way forward for the rules governing the UK’s £14 trillion-plus asset management industry – the second largest in the world. AIMA welcomes the proposals to make the rules more proportionate and sensitive to the size and complexity of firms and remove some unnecessary reporting and information disclosures.

Jiri Krol, Deputy CEO and Global Head of Government Affairs at AIMA, the world's largest alternative investment trade body, said: “HM Treasury and the FCA recognise that the current rules can be made less burdensome while maintaining necessary consumer protections. A rethink of the crude monetary thresholds applying to managers is long overdue. We are pleased to see that some of the overly prescriptive organisational requirements and duplicative data managers must report are being reviewed. We look forward to working with the UK government on this important initiative.”