FCA hits Non-UCITS funds with new liquidity rules as Woodford forces rethink
Will not apply to UCITS
Non-UCITS retail schemes (NURSs) investing in inherently illiquid assets such as property are to be forced to abide by new liquidity rules from next year, with the Financial Conduct Authority (FCA) moving to ensure investors are "appropriately protected".
The new rules, which will come into force on 30 September 2020, aim to ensure NURSs managers provide investors with clearer and "prominent" information on liquidity risks, and the circumstances in which...
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