Regulatory Alerts2018-12-11
Added · Updated
Patient Capital and Authorised Funds: Feedback on DP18/10
The Financial Conduct Authority summarizes responses to Discussion Paper 18/10 regarding barriers to investing in long-term assets through authorised funds. The Authority concludes that the current regime is fit for purpose for professional and sophisticated retail investors via Qualified Investor Schemes, but notes that existing restrictions on UCITS and NURSs limit retail access to illiquid assets. While the Authority welcomes the Investment Association's proposal for a new Long-Term Asset Fund, it identifies areas requiring further work on the balance between asset expansion and investor protection. The Authority also notes ongoing work with the Financial Policy Committee to align redemption terms with asset liquidity.
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