Initial offer period limit considered for axe

Professional Adviser
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The FSA has proposed to remove the 21-day maximum period for initial offer periods as part of its go...

The FSA has proposed to remove the 21-day maximum period for initial offer periods as part of its goal to eject unnecessary prescription from current rules. It aims to change the present ruling and extend offer periods to any length that is appropriate to the fund's objectives. Toby Hogbin, product development manager for Credit Suisse Asset Management, said the move is very positive for investors and providers. 'Any simplification has to be a good thing. It will allow a much greater flexibility in product design. 'For example if a company is launching a limited issue fund writte...

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