VCTs and EISs to come under UCIS ban

clock

Venture capital trusts (VCTs) and enterprise investment schemes (EISs) are to fall under the Financial Services Authority's (FSA's) upcoming guidance on unregulated collective investments schemes (UCIS).

The proposals, outlined in a consultation paper in August, would restrict VCT and EIS sales to sophisticated investors, despite the government encouraging advisers to recommend the schemes to clients. Downing Street adviser Lord Young has been consulting industry bodies, including the Institute of Financial Planning (IFP), on ways to ease the regulatory burden on advisers. At a meeting earlier this month, IFP CEO Nick Cann said members were concerned about retrospective regulation from the FSA, as well as the upcoming UCIS paper. "The issues they are facing given the FSAs paper on ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on VCTs / EIS

Turning 30: There has never been a more important time to utilise EIS

Turning 30: There has never been a more important time to utilise EIS

EIS investing isn't a one-size-fits-all all approach

Moray Wright
clock 27 March 2024 • 3 min read
Five reasons why now is the time for EIS in client portfolios

Five reasons why now is the time for EIS in client portfolios

'The current market presents a unique opportunity'

Will Gibbs
clock 22 February 2024 • 5 min read
Boosting the British economy through innovative EIS funding

Boosting the British economy through innovative EIS funding

'Smaller businesses are the lifeblood of the UK economy'

Harry Heartfield
clock 25 January 2024 • 4 min read