- Published date:
- 21 October 2026
Much of the current UK asset management framework is derived from EU law, including the Alternative Investment Fund Managers Directive (AIFMD). Over the summer, HM Treasury and the FCA have been consulting on proposals to form a more tailored UK AIFM Regime and, alongside this, introduce a new fund reporting framework. RE:UK has submitted comprehensive responses to the following consultations in relation to this:
- HM Treasury – Regulations for Alternative Investment Fund Managers
- FCA CP26/28 The UK AIFM Regime
- FCA CP26/26 Fund Reporting for Asset Management Entities (FRAME)
In our responses, RE:UK has called for a Regime that ensures the UK remains competitive in relation to real estate AIFs. We have highlighted where we believe the proposals need improving - for example, where definitions need clarifying or changing, and where there is duplication of reporting requirements. Also, we have questioned some of the depositary requirements and have sought fair treatment for the Reserve Investor Fund (RIF). The removal of the unlimited liability for external valuers has been particularly welcomed, and we have asked for this to be implemented as soon as possible.
Once the FCA has taken account of the feedback to the consultations they will be consulting further on their proposals and rules for the UK AIFM Regime. RE:UK looks forward to engaging further with the FCA and HM Treasury on the Regime.
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