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This consultation sets out the government鈥檚 proposal to amend a key area of assimilated law - the regulations applying to managers of Alternative Investment Funds. 聽The government has identified opportunities to streamline these regulations with the aim of making it simpler and cheaper for most asset managers to do business in the UK, increasing the UK鈥檚 attractiveness as an asset management hub and contributing to its mission to deliver economic growth. The consultation seeks to gather insights and feedback on the proposed regulatory changes.

The consultation proposes simplifying the Regulatory framework for Alternative Investment Fund Managers, while retaining core consumer and market protections. It also proposes removing detailed, firm-facing requirements from legislation, in line with the UK鈥檚 established model for financial services regulation and enabling the Financial Conduct Authority (FCA) to create a more proportionate and streamlined regime for fund managers, ensuring rules are properly tailored to the nature and scale of a firm鈥檚 business.

This consultation is accompanied by an , setting out their proposed approach to the detailed rules for Alternative Investment Fund Managers, on the basis of the government鈥檚 proposals. Both papers will be of interest to managers of Alternative Investment Funds and trade associations.