FCA launches consultation on Russia side pockets

Closes 16 May 2022

James Baxter-Derrington
clock • 1 min read
The regulator has laid out that the authorised fund manager must consider all options, including whether a fund suspension would be in the best interest of investors over a side pocket.
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The regulator has laid out that the authorised fund manager must consider all options, including whether a fund suspension would be in the best interest of investors over a side pocket.

The Financial Conduct Authority has opened a consultation into rules that would allow UCITS and non-UCITS retail schemes to side pocket assets affected by the Russian invasion of Ukraine and associated sanctions.

This consultation is seeking feedback on the processes that would allow funds to carve out Russian, Belarusian and Ukrainian assets from the main investment pool, allowing existing investors to sell the...

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