FCA to open review of private markets valuations - reports

Citing people familiar with the plans, the FT reported that the financial watchdog will examine asset managers' "disciplines and governance" over valuations.  This would entail investigating who within a company is held accountable for valuations, how information about those assessments is sent to the appropriate management committee and board, and what other governance practices are in place. The person familiar with the matter told the newspaper that if the FCA determines that governance processes are robust, it can call out failures. If the firm does not respond, the regulator coul...