The Financial Conduct Authority (FCA) has confirmed it is delaying the publication of final rules governing the sale and promotion of unregulated collective investment schemes (UCIS), saying it remains unclear on some issues and must be allowed time to get the regulations right.
The regulator said it plans to publish its policy statement - originally due in April and which is expected to outline whether venture capital trusts (VCTs) and real estate investment trusts (REITs), among others, should be included in a general ban on promoting UCIS to "ordinary" retail investors - "as soon as possible this year". "Further to discussions with stakeholders, there remain important issues for us to consider and our proposals were not submitted to the FCA Board in April as originally planned," the regulator said in a statement. "We will take account of the later publicat...
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