Changing the rules for investors in illiquid assets
The Financial Conduct Authority has recently approved new rules for some funds that invest in illiquid assets, but are they tough enough?
Coming into effect on 30 September 2020 and applied to non-UCITS retail schemes (NURS), the rules suggest investors must get better warnings about the risks they face if they need their money back at short notice. Fund managers of relevant NURS funds must also maintain plans to manage liquidity risk.
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