FCA Rejects Tightening Liquidity Rules After Woodford Saga
Law360, London (August 7, 2019, 3:56 PM BST) -- The head of Britain’s financial watchdog has rejected suggestions that the U.K. should draft its own rules on illiquid assets in European investment funds, even though weaknesses in regulation contributed to the freezing of a prominent equity fund.
The head of the FCA said there would be “significant drawbacks" if Britain drafted its own rules on illiquid assets in European investment funds. (AP)
Andrew Bailey, chief executive of the Financial Conduct Authority, said there are “significant drawbacks" to tightening limits on unlisted assets in funds under the framework of European Union rules for investment funds known as UCITS.
The European rules have come...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!