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FCA

FCA

Financial Conduct Authority (UK)

Medium Impact

FCA consults on streamlined UK asset management rulebook, FRAME reporting and solo remuneration reforms

Published

Jul 13, 2026

Topics

Asset management, Fund reporting, FRAME, AIFMD, UCITS management companies, MIFIDPRU investment firms, Remuneration, Regulatory reporting, UK regulatory reform

Executive Summary

The FCA has proposed a package of asset management reforms expected to save industry approximately £128 million per year, with a large share of the savings expected from simpler Fund Reporting for Asset Management Entities (FRAME) requirements. The package also proposes to modernise and simplify AIFMD-related rules dating from 2013 and to replace overlapping remuneration codes for relevant solo-regulated firms with a clearer, more proportionate framework. The FCA is consulting before making final decisions, with separate response deadlines for the Solo Remuneration Rules Reform consultation on 16 September 2026, the FRAME consultation on 22 September 2026, and the UK AIFM regime consultation on 14 October 2026. Firms should treat this as a consultation-stage change: no final implementation date or final reporting template changes are stated in the source announcement.

What Changed

modifiedFRAME reporting requirements proposed to be simplified and tailored

Previous

Existing FCA fund reporting/data collection requirements for asset management entities, before the proposed FRAME simplification. The announcement does not specify individual field-level changes.

New

Consultation-stage proposal for simpler, UK-tailored FRAME requirements; final rules and reporting specifications have not yet been announced in the source.

modifiedAIFMD-related rules proposed to be modernised and simplified

Previous

AIFMD-related FCA rules dating from 2013.

New

Consultation-stage proposal to modernise and simplify the UK AIFM regime; the consultation response deadline is 14 October 2026.

modifiedSolo remuneration rules proposed to be consolidated into a clearer framework

Previous

Overlapping remuneration codes applying to relevant FCA solo-regulated firms.

New

Consultation-stage proposal for a clearer, more proportionate solo remuneration framework. The announcement says the consultation covers full-scope AIFMs, UCITS management companies, and non-SNI MIFIDPRU investment firms.

Business Impact

Who is affected

UK asset managers subject to FCA asset management requirements, including firms using or preparing FRAME reporting processes. The remuneration consultation is stated to cover full-scope AIFMs, UCITS management companies and non-SNI MIFIDPRU investment firms that are solely regulated by the FCA.

Jurisdictions

United Kingdom

Business processes

Regulatory change management, Fund reporting and supervisory data submissions, FRAME data sourcing, controls and governance, AIFMD-related compliance framework review, Remuneration policy, governance and code-mapping, Consultation response preparation, Board, committee and senior management briefing

Estimated effort

Medium

Compliance risk

Medium

Affected Reports

Fund Reporting for Asset Management Entities (FRAME)
FieldValidation rule

Recommended Actions

  1. 1

    Assign accountable owners for each of the three FCA consultations: UK AIFM regime, Solo Remuneration Rules Reform, and FRAME.

  2. 2

    Prepare and submit any firm or trade-association feedback before the relevant FCA deadlines: 16 September 2026 for Solo Remuneration Rules Reform, 22 September 2026 for FRAME, and 14 October 2026 for the UK AIFM regime consultation.

  3. 3

    For FRAME, inventory current fund reporting data sources, ownership, controls and submission workflows so that final FCA reporting changes can be assessed quickly once detailed rules or templates are finalised.

  4. 4

    For AIFMD-related reforms, map current AIFMD compliance obligations, policies and procedures to the areas covered by the FCA consultation paper once reviewed internally.

  5. 5

    For remuneration, identify which FCA remuneration codes currently apply to the firm and assess where overlapping requirements may be replaced or rationalised under the proposed solo remuneration framework.

  6. 6

    Brief boards, remuneration committees, compliance, operations, regulatory reporting and technology teams that the FCA announcement is consultation-stage only and that no final effective date is stated in the source.

  7. 7

    Monitor FCA policy statements, final rules, technical reporting guidance and any revised FRAME templates or filing instructions following the consultations.

Timeline

publication

Jul 14, 2026

FCA published press release announcing proposed reforms to the UK asset management rulebook, including FRAME, AIFMD-related rules and solo remuneration rules.

consultation deadline

Sep 16, 2026

Deadline for input to the FCA Solo Remuneration Rules Reform consultation paper.

consultation deadline

Sep 22, 2026

Deadline for input to the FCA Fund Reporting for Asset Management Entities (FRAME) consultation paper.

consultation deadline

Oct 14, 2026

Deadline for input to the FCA UK Alternative Investment Fund Managers regime consultation paper.

Sources

AI-generated analysis is based on the following primary sources. Always verify against the official publication.

Related Evidence

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