Recommendations made by the Financial Stability Board (FSB),
aimed at making the global asset management industry safer have
been welcomed by the market. Many have highlighted their
overlaps with the Alternative Investment Fund
Managers’ Directive (AIFMD) already in place in
As the post-crisis scrutiny of the mainstream banks reaches
maturity regulators are turning their attention to the fund
management industry, which has experienced exponential growth
as banks contract. The value of assets under management by
investment funds has grown from $53.6 trillion in 2005 to $76.7
trillion in 2015, according to the FSB.
Woodman Asset Management’s general counsel Ulf
Klebeck said that as a lot of the recommendations are already
addressed by AIFMD, it seems the FSB is looking to bring the
rest of the world in line with the EU.
"If other regulators take the FSB recommendations on board
then it could be...