Bank of England warned by FCA of property fund outflow risks

In the minutes of meetings by the Financial Policy Committee held on 28 June and 1 July, the committee was briefed by the Financial Conduct Authority (FCA) on the extent of the increased level of outflows following the Brexit vote, Bloomberg reports. The FCA also indicated to the committee, led by Bank of England governor Mark Carney (pictured), that this could lead open-ended property funds to be suspended in the near term.  Seven providers have now frozen withdrawals from some of their property funds, while others adjusted pricing on their vehicles.  The largest fund to be suspen...