UCIS: four due diligence steps advisers must take

Changes outlined in the Financial Services Authority (FSA) consultation on reforming the promotion of unregulated collective investment schemes (UCIS) further restrict the sale of UCIS funds to ordinary investors. As a result, there are a number of important implications for financial advisers. To adhere and adapt to the proposed changes, it is fundamental that advisers have a clear understanding of what they entail, how they affect their existing clients and the effect it will have upon marketing to prospective clients. For example, the profile of investors that are eligible. In a...