CIS shake-up

letters

Oliver Lodge, managing director of Beachcroft Wansbroughs Consulting Sir, With the publication of ...

Oliver Lodge, managing director of Beachcroft Wansbroughs Consulting Sir, With the publication of its policy statement on the new regime for Collective Investment Schemes, the FSA has taken the next step in a rejuvenation of the sector. In sweeping away so much of the clutter of the old regime for unit trusts and Oeics, the regulator is presenting a major challenge to the industry. From 1 April the race is on to see who will produce the first "qualified investor scheme". The scope for these non-retail products is wider than most will have dreamt of and there are bound to be some bad e...