The Financial Conduct Authority (FCA) has issued a new paper calling for market feedback on its proposals to improve asset management regulation through a more modern and tailored regulatory regime.

The paper outlines a range of ideas including how the authority could use technology to improve customer experience and how its existing rules could be streamlined to help firms deliver better support to investors in the UK and globally.

Stating that its goal is to better meet the needs of UK markets and consumers, the FCA said it will make sure any changes are consistent with international standards and enable technological development and innovation.

“Given the UK’s leading role as a centre for asset management, we want to make sure our rules are fit for the future,” said Camille Blackburn, director of wholesale buy-side at the FCA.

Blackburn continued: “We want a UK wholesale market which supports the economy and is open to innovation, while remaining consistent with high standards of consumer protection and market integrity.”

The Future Regulatory Framework paper falls in line with the FCA’s three-year strategy to continue its work on promoting market excellence and competition across financial markets.

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