Phil Kitto, Carne Global

In February 2008 the FSA published the feedback to its consultation paper on funds of alternative investment funds (FAIFs). The paper confirms the introduction of retail-orientated FAIFs into the UK regulatory regime by the fourth quarter of 2008.

We may expect significant changes to come in the operational processes, systems and control structures of both the managers of FAIF products and the funds into which they may invest. The requirement for the FAIF manager to perform ongoing due diligence

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