After 18 months of focusing on how best to protect the nation’s health and wealth, it’s now full steam ahead (green steam of course) as the Government seeks to turbo-boost the UK’s economic recovery.
FCA dithers over property funds; extends enquiry to include long-term asset funds
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FCA dithers over property funds; extends enquiry to include long-term asset funds
The unit trust industry has evidently been lobbying hard behind the scenes (Dave Cameron not thought to be involved)
City watchdog, the Financial Conduct Authority (FCA), has postponed its verdict on a possible reform of the rules for investing in property funds.
The FCA revealed its decision would not be announced until the third quarter of this year, at the earliest.
The watchdog has been investigating property funds after a number of them temporarily suspended withdrawals in 2019 on concerns that property assets could not be sold fast enough to meet redemption requests from investors.