FSA requests responses on Ucis by June 27, leaving open the inclusion of delta 1 certificates

Banks must respond to the UK Financial Services Authority by Wednesday with feedback on new rules that will clamp down on the sale of unregulated collective investment schemes. Whether delta 1 products will be caught by the new rules is unclear

shell game

Linda Woodall, head of the investment intermediaries department at the UK Financial Services Authority (FSA), has this week sent two letters to banks this week requesting their feedback on unregulated collective investment schemes (Ucis) by June 27.

"The unlawful promotion and mis-selling of Ucis is a key risk we have identified in the retail investment market," states the FSA. "Our concerns include how firms' behaviour further up the Ucis product chain may be contributing to the risk of Ucis

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