UK Regulator Wants More Rules On Esoteric-Securities Sales

Law360, New York (August 22, 2012, 5:03 PM EDT) -- The British financial regulator said Wednesday that financial services firms should be prohibited from marketing some esoteric securities, such as investments in fine wine and timber, to ordinary investors because the investors don't fully understand the myriad risks.

The Financial Services Authority said financial advisers should be prohibited from promoting a class of investments — known as unregulated collective investment schemes, or UCIS, because they involve non-mainstream investments and aren't subject to certain regulatory restrictions — to any but the most sophisticated investors and high-net-worth individuals,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.