FCA consults on targeted changes to listing rules for closed-ended investment funds

FCA Pushes Tighter Conflict Rules Across 3 Key Closed-Ended Fund Scenarios

The UK’s Financial Conduct Authority wants to rewrite the rulebook on conflict of interest for closed-ended investment funds. It’s a… Read the original on FCA Pushes Tighter Conflict Rules Across 3 Key Closed-Ended Fund Scenarios. For more crypto news and analysis, visit TheCurrencyAnalytics.com.

FCA tightens rules for closed-end funds

In an effort to bolster investor protection, the U.K.’s Financial Conduct Authority (FCA) is consulting on proposed changes to the rules for listing closed-end funds. In a consultation paper on proposed changes to its listing rules, the FCA is seeking changes designed to improve the management of conflicts of interest in these vehicles. “Our aim is to ensure existing rules work consistently and robustly, in future scenarios, and to reduce the ri…

FCA consults on changes to closed‑ended investment funds

The FCA has published a consultation paper on proposed changes to its UK Listing Rules for closed‑ended investment funds, focused on the management of conflicts of interest. The UK regulator pointed that closed‑ended investment funds have a distinct structure, operating as both listed companies and investment vehicles. Shareholders appoint a board, which in turn appoints and oversees the investment manager responsible for delivering returns. Sha…

FCA proposes tougher conflict rules for investment trusts

The Financial Conduct Authority has proposed changes to the UK Listing Rules to strengthen conflict-of-interest protections for investment trusts, including tighter oversight of investment manager appointments.

FCA deals blow to Saba

The FCA has launched a consultation on related party transactions between boards and managers that looks aimed squarely at Saba’s attempts to change boards to get itself appointed as the manager. The questions give a clue to the direction of travel – this looks likely to put an end to the ill treatment of minority shareholders. The FCA’s proposals include: Preventing a director who is not independent of the proposed investment manager from voti…

FCA proposes new rules for investment trusts following Saba Capital campaigns

The UK’s Financial Conduct Authority (FCA) has proposed targeted changes to the listing regime for closed-ended investment companies, seeking to address governance issues highlighted by activist campaigns led by US hedge fund Saba Capital, according to a report by the Financial Times  The consultation, launched on Friday, follows Saba’s successful efforts earlier this year to gain control of the boards of two London-listed investment trusts afte…