FSA proposes retail access to hedge funds, alternative investments

The FSA has proposed to alter its Nurs regime to allow retail investors to access funds of hedge fun...

The FSA has proposed to alter its Nurs regime to allow retail investors to access funds of hedge funds and other alternative investments. According to the regulator, the proposal would bring structural and operational safeguards to alternative investments including the requirement for independent depositary, strict rules on independent valuation of underlying assets and timely redemption of investments. The proposals include lifting the existing 20% investment restriction into unregulated collective investment schemes for vehicles in the Nurs regime. Dan Waters, the regulator’s direct...