UK wealth management firms with assets under management and administration (AUMA) of less than £5 billion could be exempt from a new climate-related financial disclosure regime currently under consideration at the Financial Conduct Authority (FCA), the UK’s main financial regulator.
The proposed measures are outlined in FCA Consultation Paper CP21/17 ‘Enhancing Related Disclosures By Asset Managers, Life Insurers and FCA-Regulated Pension Providers’ and could have significant implications for the UK asset management sector.
Because most of the firms active in the UK wealth management sector almost certainly overs...