Regulatory Alerts2018-12-11
Added · Updated
Amendment of COBS 21.3 permitted link rules
The Financial Conduct Authority amends COBS 21.3 to introduce 'conditional permitted links' allowing unit-linked funds to invest in illiquid assets, including infrastructure immovables and unlisted securities not readily realisable in the short term. Insurers utilizing these new permissions must ensure an overall limit of no more than 35% of fund gross assets is invested in such illiquid assets, excluding existing permitted land and property investments. Compliance with these final rules is required from 4 March 2020.
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