Arsenal dealt transfer blow in pursuit of Manchester United defender Chris Smalling

first_imgSmalling is wanted by Arsenal, Juventus and Inter Milan (Picture: Getty)According to Gazzetta dello Sport, Serie A giants Juve and Inter are also lining up moves for the former Fulham star.AdvertisementAdvertisementIt’s understood United would be willing to part with Smalling for a fee of around £18million in the summer.Smalling’s ultimate goal is to return to the England set up and it’s likely this will have a major influence on his club future. Advertisement Comment Manchester United defender Chris Smalling has impressed on loan at Roma (Picture: Getty)Juventus and Inter Milan have reportedly joined Arsenal in the race to sign Manchester United’s on-loan centre-back Chris Smalling.Ole Gunnar Solskjaer allowed Smalling to complete a temporary switch to Roma in the summer and the 30-year-old has been a revelation in Italy, even captaining the side this season.Roma are already interested in making Smalling’s move permanent at the end of the campaign, but the club are likely to come up against stiff competition for the England international.Reports at the weekend claimed that Arsenal are preparing a bid for Smalling after keeping close tabs on the defender’s impressive performances this term.ADVERTISEMENT Arsenal dealt transfer blow in pursuit of Manchester United defender Chris Smallingcenter_img Advertisement Manchester City 1-2 Manchester United: Ole Gunnar Solskjaer press conferenceTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 8:20FullscreenManchester City 1-2 Manchester United: Ole Gunnar Solskjaer press conferencehttps://metro.co.uk/video/manchester-city-1-2-manchester-united-ole-gunnar-solskjaer-press-conference-2065380/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Despite recent reports suggesting otherwise, Solskjaer expects Smalling to be back playing for United next season.‘Chris has been fantastic. We know sometimes if you change the environment it can go both ways,’ the Norwegian said last week.‘But Chris is the type to relish these challenges he’s cultured, enjoys life down there, it’s a new experience for him.‘He’s a boy who couldn’t be here without being a regular and we’re so happy for him because we can see the top player he is.’MORE: Patrick Vieira admits he would listen to Arsenal offer for manager role Metro Sport ReporterMonday 9 Dec 2019 11:43 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy linklast_img read more

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UK regulator flags stability risk of ‘very large’ asset managers

first_imgThe FCA’s comments echoed those made by the Bank of England – of which the FCA is a part – in 2014, when then-executive director for financial stability Andrew Haldane said it was viable to consider the risks to the wider economy of the collapse of an asset management company.The FCA also confirmed its plan to publish the final report into its asset management market study in the second quarter of 2017. As well as reiterating its findings from the market study, the regulator also highlighted other areas of concern, including asset managers overpaying for services and custody banks’ reluctance to invest in IT systems.Amanda Rowland, asset management regulation partner at PwC, said the regulator’s focus on liquidity management supported “broader operational concerns” linked to the UK’s imminent exit from the European Union. It also indicated that “some movement around enhanced stress testing and redemption disclosure is possible”, Rowland added.“While acknowledging that Brexit will require regulatory flexibility, the FCA has focused on asset management initiatives such as cost disclosure and liquidity management that have wider international support and will likely be successfully progressed regardless of where Brexit takes the UK and the FCA,” she said.In the immediate aftermath of the UK’s vote to leave the EU, several open-ended property funds were forced to temporarily close to redemptions due to a high level of withdrawals.Chris Cummings, chief executive of the Investment Association, the asset management trade body, welcomed the regulator’s approach and its willingness for industry dialogue. He added: “As we move into a post-Brexit world, it is vital that the UK regulatory framework continues to foster a globally competitive environment to set up and run an asset management business.” The failure or “disorderly wind-down” of one or several large asset managers could pose a financial stability risk to the UK’s system, the Financial Conduct Authority (FCA) has warned.Outlining its views of various sectors of the UK financial system as part of its annual mission statement and business plan, the FCA said: “Market stability could be affected by the failure or disorderly wind-down of a very large asset manager or several asset management firms as end-investors attempt to redeem their holdings on demand, creating a downward selling spiral.”In its business plan for 2017/18, the FCA said: “Following stakeholder feedback, we will review our policy options and the available tools that asset managers have to manage liquidity when facing redemptions and valuation issues, and assess how adequate they are in managing conduct risks and addressing financial stability concerns. This work should ensure that liquidity management in funds allows for a fair treatment of all customers, including those who remain invested, and does not amplify disruptions to the financial system in stressed market conditions.”International regulators such as the International Organisation of Securities Commissions and the Financial Stability Board have previously suggested treating large asset managers as systemically important, putting them at a similar regulatory priority level as the world’s biggest banks and insurers.last_img read more

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