The Financial Services Authority (FSA) is proposing to ban the promotion of certain structured products as part of its wider effort to prevent the sale of unregulated collective investment schemes (UCIS) to retail investors.
In its UCIS consultation paper released today, the regulator said some structured products would be caught by its proposed rules in order to shut a potential loophole in its UCIS ban. The FSA is proposing to ban the promotion of UCIS and pooled investment special purpose vehicles (SPVs) that are functionally similar to UCIS, and said ‘non-mainstream' structured products should also be subject to its proposals. "Some structured products should be caught by our proposed rules. If these products are completely excluded from scope, product providers might structure similar offerings as wo...
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