Regulatory costs prompt EQT to review UK business future

Mike Taylor

Managing Editor/Publisher, Financial Newswire

22 June 2023

Faced with increasing regulatory costs and pricing pressures, Equity Trustees has announced it is reviewing its investment in the UK and Ireland and exploring options for the future of the businesses.

In an announcement to the Australian Securities Exchange (ASX) managing director, Mick O’Brien said that while the businesses are now well established with valuable licenses, great teams and a solid foundation of clients “the regulatory environment continues to intensify and competition has increased significantly, leading to increased costs and pricing pressures and requiring further investment”.

However, the Equity Trustees announcement dismissed media reports that the company was having discussions with Apex Fund Services in respect of the UK business stating no discussions were underway.

“We are reviewing all our strategic options, however no decision has been made and will keep the market informed in accordance with our continuous disclosure obligations,” O’Brien said.