The FSA has published its proposed rules governing the sale of Child Trust Fund products, which will be broadly split into stakeholder and non-stakeholder types.
CP04/10Child Trust Funds provides for a consultation period to 3 September, with final rules to be published by October and implemented by 1 December this year. CTF vouchers – the initial £250 government contribution, plus an additional £250 for qualifying children of lower income families - will be sent to parents as of January 2005. Firms may start accepting applications as of that time took, however, they will be barred from accepting contributions until April 2005. Stakeholder CTFs will be equity based with minimum statutory standards, comparable with other stakeholder products...
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