Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EIS) have been granted an exemption from the FCA's ban on sales of unregulated collective investment schemes (UCIS) to retail investors.
The final rules, outlined today by the Financial Conduct Authority, state VCTs and EIS vehicles do not fall into the UCIS category and can continue to be sold to retail investors. "Following analysis of the feedback, a number of products now lie out of scope of the marketing restrictions," said the FCA. "These include exchange traded products, overseas investment companies that would meet the criteria for investment trust status if based in the UK, real estate investment trusts and venture capital trusts. "Enterprise investment schemes and seed enterprise investment schemes, unless...
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