FCA pushes back UCIS paper until June

The Financial Conduct Authority (FCA) has delayed the publication of its final rules and guidance on unregulated collective investment schemes (UCIS) until June.

Investment Week has learnt the FCA committee wants to be given more time to consider what investment vehicles should be included in the forthcoming sales ban of UCIS investments to retail investors. The paper was due to be released at the end of April. The FCA committee is reconsidering whether VCTs, REITs and offshore investment companies should fall under the UCIS definition. In February, Investment Week reported the regulator had written to the Association of Investment Companies (AIC) to say it is considering amending its proposals. The body added it is "aware of concerns" i...