Tax-transparent funds set for 2012 rollout

Natalie Kenway
clock

The FSA will be able to authorise tax-transparent funds by the summer of 2012 after the government moved to introduce the products through secondary legislation.

Financial Secretary to the Treasury Mark Hoban MP, speaking at the IMA Chairman's Dinner last night, gave the green-light after saying tax-transparent vehicles will not need to go through primary legislation. The comments are a u-turn from a previous announcement in November and were welcomed by the IMA. Julie Patterson, director of authorised funds and tax at the IMA, said she is pleased the debate will now not need to go through "the clunky parliamentary process" which primary legislation involves. Tax-transparent funds are expected to boost the UCITS IV directive, allowing feede...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Financial services

FCA also cracks down on high-risk investment adverts

FCA launches consultation to broaden access to LTAF

Tightens high-risk advertising rules

Jenna Brown
clock 01 August 2022 • 3 min read
Asset managers prioritised Article 8 and Article 9 products for the first phase of the European ESG Template reporting, but Morningstar research shows that the data is inconsistent.
ESG

Financial advisers will struggle to meet MiFID II sustainability obligations due to patchy data

Lack of product comparability

clock 29 July 2022 • 2 min read
Sheldon Mills, FCA executive director of consumers and competition

FCA gives three month Consumer Duty extension for advisers

Deadline of 31 July 2023

Hemma Visavadia
clock 27 July 2022 • 5 min read
Trustpilot