The Financial Conduct Authority (FCA) has published a swathe of consultation papers today (8 December), aiming to “boost investment culture in the UK”, including on bringing model portfolios in line with authorised funds.
Highlighting that retail access to financial products has widened and become easier in recent times, the FCA has asked for feedback on plans to harmonise the regulation around disclosure for model portfolio service (MPS). It noted that while MPS has become popular among retail investors, as it has created opportunities that consumers find "easier and more accessible", the service does not have to abide by the same regulatory requirements as investment funds. The FCA argued that there are similar risks to investing in a model portfolio as there are in authorised funds. Therefore, the w...
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