UK Financial Conduct Authority: FCA to ban the promotion of UCIS and certain close substitutes to ordinary retail investors
( June 4, 2013, 11:01 GMT | Official Statement) -- MLex Summary: The UK Financial Conduct Authority plans to ban the promotion of certain complex investment products to retail investors. Products including Unregulated Collective Investment Schemes and Non-Mainstream Pooled Investments will be restricted to institutional and high-net worth investors, the FCA said. The decision came after the watchdog concluded that some of these products caused ordinary investors considerable losses.The text of the statement follows....
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