FCA wants pension rich excluded from sophisticated investor loophole
The Financial Conduct Authority (FCA) wants to completely exclude pension wealth from high net worth investor (HNWI) calculations in order to prevent retirees losing their nest egg in high risk sophisticated investments.
It has proposed an amendment to its ‘certified high net worth investor' and ‘restricted investor' (RI) certification criteria so it is clear that, except where the withdrawals are intended as income in...
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