Key facts
- FCA deputy chief executive Sarah Pritchard called for greater transparency in private markets.
- Firms must disclose gifts such as private jets and sports event tickets to investors.
UK regulator says private firms must disclose gifts like jets
IN SHORT
The UK's Financial Conduct Authority (FCA) has stated that firms operating in private markets must clearly disclose gifts and benefits, such as private jets and sports event tickets, to investors. This directive aims to enhance transparency and investor confidence in the growing private markets sector. The FCA is focusing on outcomes-based regulation, encouraging innovation while ensuring investors have the clarity needed for informed decisions.
Key Numbers
$15.5 trillionglobal private markets assets under management at the end of last year
£1.2 trillionUK private markets assets under management
12 minutesreading time for the speech
Who's Involved
Sarah Pritchard
FCA deputy chief executive who delivered the speech
Financial Conduct Authority
UK regulator calling for disclosure of gifts
The Investment Association
host of the Private Markets Summit
↳ Why This Matters
The FCA's push for greater transparency in private markets, particularly regarding undisclosed gifts, aims to protect investors and foster trust in a rapidly growing sector. This directive could lead to stricter disclosure requirements for firms managing significant assets, impacting how they engage with clients and manage potential conflicts of interest.