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The FCA is preparing to launch a mandatory information request for Smaller Asset Managers and Alternatives, in the form of a Business Model Questionnaire under Section 165. Firms that receive this request will be required to complete and submit their responses within six weeks. The first requests will be sent out in September 2024. Key points: - The FCA will send these requests to all firms in the sector, with staggered distribution. If you don't receive one initially, it doesn't mean you're exempt. - The request will be sent to the primary contact listed on the FCA’s Financial Services Register, likely to the email under “firm address.” - There's no clear definition of what qualifies as a small Asset Manager or Alternative firm, so any firm within the broader Asset Management sector could be within scope. If you need assistance, we're here to help. Contact your usual FMConsult representative or email us at help@fmconsult.co.uk. Firms that receive this request will be required to complete and submit their responses within six weeks. The first requests will be sent out in September 2024. #FCA #AssetManagement #RegulatoryUpdate #FMConsult Andy H. Ross Revell
