IA's Guy Sears: Brexit would lead to 'massive disruption' for fund managers

Speaking at a Treasury Select Committee meeting, Sears (pictured) talked about the economic implications and financial costs of a Brexit. He said UCITS funds, which are currently able to be marketed across Europe regardless of domicile, could need to be re-classified as alternative investment funds. If Britain was no longer part of the European Union, funds would instead need to show a "equivalence of regulation" between the UK regulator and the European regulator, in order to be sold on the continent.   Sears said: "If we leave the EU then UCITS products will no longer be UCITS...