Asset management regulation | KPMG | UK
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Asset management regulation: Europe and US take different paths

Asset management regulation

Regulation between the US and much of the rest of the world is diverging according to KPMG’s 2018 Evolving Asset Management Regulation report.


Head of Asset Management, Regulatory Change

KPMG in the UK


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KPMG finds that while Europe and some ASPAC countries continue at a pace with implementing post-crisis regulations and proposing yet more legislation for asset management, the US is putting the brake on new regulations and withdrawing some rules for mutual funds.

There is a common theme among supervisors, though. Around the globe, they are increasing resources and harnessing new technology. Earlier this year, for example, the SEC signalled a growing number of visits to investment firms as it moves towards a “broken windows” approach; believing that minor violations can signal larger infringements.

Julie Patterson, author and head of asset management regulatory change, KPMG, comments:

“Asset managers in Europe and Asia aren’t seeing any let-up in the volume of regulations they face, while the US takes a different path. A clear example of the diverging approaches can be seen in the debate on asset management and systemic risk. Europe and ASPAC are following the 14 recommendations of the Financial Stability Board on liquidity management and leverage, whereas the US rejects the need for stress testing of mutual funds.

“Whilst for most regulatory bodies across the world, the twin peaks of financial stability and investor protection continue as priorities, a new theme is also emerging: competitiveness. Regulatory barriers to cross border business are being addressed and new competitive fund structures are being introduced.
“Asset managers will have to navigate an increasingly complex regulatory landscape for some time to come.”


Find the report online here: Evolving Asset Management Regulation 2018

Press office contact:
Christina Bridge, Senior Manager, Press Office
+44 (0)7789 504905

About KPMG in the UK
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff. The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

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