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Luuk Jacobs

Conduct

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Jonathan Max

The extension of SMCR across Asset Management can only be seen a positive step for the industry, notwithstanding the significant undertaking in successful implementation. This can’t, and shouldn’t be seen as another regulatory hurdle but rather about embedding the right culture and conduct; https://www.handbook.fca.org.uk/handbook/COCON/2.pdf

There are many lessons which Asset Managers can learn from the investment banking world to aid implementation and realise the operational and commercial benefits gained through the regime.

Whilst there may always be some ‘rotten apples’ the impact of ‘fit and proper’ on individuals ability to work in the industry if they fail to operate with what most would consider basic standards of conduct and culture. 

What do others think about the extension of SMCR?

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      I just read article written by Tom Coutts, an investment manager with Baillie Gifford, who calls for more humility in the behaviour of the asset management industry, suggesting that the fees charged by asset managers should be aligned with the value [really] created for the investor (https://insight.bailliegifford.com/data/article/details/12242?article=riding-the-gravy-train).
       
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