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ARTICLE · 06 MARCH 2025

February 2025 Regulatory Round-Up

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The Financial Conduct Authority (FCA) issued the latest Dear CEO Letter on 26th February 2025.

United KingdomFinance and Banking
Ezra Zahabi
Ezra Zahabi
Daniel Quinn
Daniel Quinn
Hamish Annandale
Hamish Annandale
Ian Meade
Ian Meade
Qasam Mahmood
Qasam Mahmood
Simon Ellis
Simon Ellis
Tim Pearce
Tim Pearce
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1. FCA's Dear CEO Letter to Asset Managers

The Financial Conduct Authority (FCA) issued the latest Dear CEO Letter on 26th February 2025. In it, the FCA confirmed its current supervisory priorities, which include private markets, market integrity and disruption, consumer outcomes, sustainable finance, financial crime and market abuse.

Private Markets

Valuation practices. The FCA acknowledged the growth of investment in private markets as an asset management strategy and highlighted the valuation risk created or exacerbated by poor conflict of interest management or insufficient expertise. Potential conflicts of interest arise, in particular, where firms use in-house valuations to price transactions or to calculate fees.

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