It is "essential" clients are given prior notification when their fund holdings are converted to post-RDR 'clean' alternatives, but individual consent is not necessary, the Financial Conduct Authority (FCA) has outlined in finalised guidance on bulk transfers to clean unit classes.
Among the feedback the FCA received to its initial guidance consultation in February was the difficulty of assessing whether bulk conversion would be in the best interests of individual clients. The...
EIS and Seed EIS sectors
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From 6 April 2019