The Financial Conduct Authority (FCA) is planning a consultation on new complex financial products created by banks and building societies to boost their capital.
In a paper out today the FCA has banned the sale and marketing of unregulated collective investment schemes (UCIS) to ordinary retail investors. Elsewhere in the paper, the regulator said it plans a further consultation into some products being created by banks and building societies to boost their capital to meet the new prudential requirements. The amounts banks and building societies are looking to raise suggest that these firms may consider offering these "novel, complex and untested financial instruments", not only to institutional investors, but also to ordinary retail investors...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
