Reference Case Number: FOI8465
Freedom of Information: Right to know request:
The number of wealth and asset management firms that have been sanctioned for publishing an incomplete value statement since 2016.
The number of wealth and asset management firms that have been sanctioned for not disclosing any value statement since 2016.
Please indicate, if applicable, the total sum of fines paid by the firms in question.
FCA response:
2000 (FOIA) and our response is below.
We can disclose that the requirement to undertake assessments of value (AoV) came into force in September 2019. The FCA has not yet taken any enforcement action against any wealth or asset management firms in connection with this requirement since it came into force.
We recently published our multi firm review findings in which we discuss firms’ reporting amongst other things, which will give you an insight into our supervisory work in this area. https://landmark-phase.live/news/statements/fund-managers-falling-short-assessing-value-their-funds%3Cspan class="print-footnote">[1]