FCA Warns Fund Bosses Of Liquidity Crackdown

Law360, London (November 4, 2019, 6:29 PM GMT) -- Britain’s Financial Conduct Authority warned bosses of investment funds on Monday that they must take extra care with their assets after the collapse of Neil Woodford's £3.7 billion ($4.8 billion) flagship fund.

All managers must take responsibility for the liquidity of their portfolios — the ease with which assets can be converted to cash if investors want to access them — even if the function is technically delegated to one member of the team, the regulator said in a letter to fund managers.

“Ensuring effective liquidity management in funds is a central responsibility for you,” the letter warned.

The watchdog said that...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS