The FCA’s Christopher Woolard
The UK’s financial watchdog has set new rules for certain open-ended funds that could spread market stress in a crisis due to their illiquid investment.
The Financial Conduct Authority said today (September 30) that some open-ended funds would be designated as “funds investing in inherently illiquid assets”, or FIIAs. Such funds will have to meet several additional requirements designed to limit potential damage during a crisis and make customers aware of the risks.
The UK has moved to tighten
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