Regulatory AlertsCP26/21: Proposed changes to the UK Listing Rules for closed-ended investment funds
The Financial Conduct Authority proposes targeted amendments to the UK Listing Rules to strengthen governance and conflict management for closed-ended investment funds. The changes bring investment managers within related party provisions, require disclosure of director-substantial shareholder associations, and restrict voting rights for substantial shareholders acting as managers on policy changes. These measures aim to protect minority investors from unfair fees and risk profile alterations while preserving legitimate shareholder activism.
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