The rules of the game: Clean share class conversions explained

The Financial Conduct Authority (FCA) has issued Finalised Guidance 14/04 addressing the movement of customers to post-Retail Distribution Review (RDR) unit classes. This is aimed at authorised fund managers, platforms (and nominees) and advisory firms. Outlined here are the ways in which each of those groups will be affected.    Advisory firms Conversion to a clean share class and the requirements will depend on the nature of the conversion. When this is carried out by way of notification to the existence of a new share class, it does not constitute advice and a conversion can b...