The Financial Conduct Authority has published a statement in relation to a consultation paper on restrictions on the retail distribution of unregulated collective investment schemes and close substitutes.

This statement is an on the approach of the FCA to last August’s consultation on proposed restrictions to the marketing of unregulated collective investment schemes (UCIS) and close substitutes. The FCA are working towards publishing a final policy statement as soon as possible this year and will take account of the later publication date when setting the implementation date for any new rules.