Regulatory Alerts2019-03-13
Added · Updated
PS19/29: Making transfers simpler – feedback to CP19/12 and final rules
The Financial Conduct Authority implements final rules requiring platform service providers to offer consumers the option to transfer units in investment funds via in-specie transfers and to request unit class conversions where necessary. These obligations apply to platforms when both the ceding and receiving platforms currently offer the fund for investment, ensuring consumers can avoid liquidating assets during transfers. The rules come into force on 31 July 2020 and affect platform service providers, fund managers, and their service providers.
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