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Funds missing T+2 settlement after October 2027 need justification, UK FCA says

( May 30, 2025, 15:42 GMT | Official Statement) -- MLex Summary: UK fund managers will have to settle transactions two days after the trade date starting in October 2027, the UK Financial Conduct Authority said. Following a recommendation from leading lobbies on Thursday, the watchdog issued a statement warning that fund managers taking longer than two days to settle trades will need to provide a "strong justification." The fund managers' move to T+2 in October 2027 is planned to happen at the same time as securities trading in the UK, EU and Switzerland moves to T+1. Most funds currently settle at T+3. "Faster settlement makes our markets more efficient, improves liquidity and supports the growth and competitiveness of the UK," the watchdog said. Statement is attached....

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