Alistair Mawdsley, managing director of Connaught Asset Management, explains what the FSA review of unregulated collective investment schemes needs to accomplish.
To say that the advice and promotion of unregulated collective investment schemes (UCIS) has been high on both the regulatory and media agenda over the last 12 months would be something of an understatement. Last year saw a number of fines issued against advisers with the regard to the promotion of certain UCIS products to clients the regulator deemed unsuitable. This regulatory focus has recently culminated with the news that the FSA is planning a review into sales of UCIS in the early part of this year with the review's findings to be published in quarter two 2012. As an asset manag...
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