The UK's Financial Conduct Authority (FCA) will increase investment in data following criticism it has been slow to respond to recent scandals. In particular, the regulator has been questioned over its slow response to the saga surrounding Andrew Bailey Equity Income fund, which faced liquidity issues earlier this year. CEO Neil Woodford's, who has faced calls to step down, said the regulator will now make a "major investment in data analytics" to aid it in responding to incidents. Bailey, who was speaking at the Lord Mayor's City Banquet, also hinted at future additional disclosure standards for the fund industry.
The UK's Financial Conduct Authority (FCA) will increase investment in data following criticism it has been slow to respond to recent scandals. In particular, the regulator has been questioned over its slow response to the saga surrounding Neil Woodford's Equity Income fund, which faced liquidity issues earlier this year. CEO Andrew Bailey, who has faced calls to step down, said the regulator will now make a "major investment in data analytics" to aid it in responding to incidents. Bailey, who was speaking at the Lord Mayor's City Banquet, also hinted at future additional disclosure standards for the fund industry.