FCA creates new ‘cradle to grave’ retail fund team

The FCA has built a new 15-strong team to authorise and supervise retail investment funds.

It hopes bringing the two processes together in the same team will make both fund set ups and on-going monitoring more efficient.

Speaking at an investment conference in London this week, FCA wholesale banking and investment management director William Amos unveiled the new strategy.

He said the team will watch funds from the “cradle to the grave”.

An FCA spokeswoman says cutting the time taken to get new funds authorised is one of the goals of the new team.