Ban on SPV-issued structured products will ‘prevent regulatory arbitrage'

The UK Financial Services Authority (FSA) proposal to ban so-called 'non-mainstream pooled investments', including certain structured products issued by special purpose vehicles (SPVs), will serve to remove loopholes in the authority's current guidance on Ucis, according to lawyers based in London.

On August 22, the FSA issued a proposal banning the sale of Unregulated Collective Investment Schemes (Ucis) to the majority of retail investors. Previous FSA research has found that in three out of f

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