| Link(s): | CP24/18: Quarterly Consultation Paper No. 45 | FCA CP24/18: Quarterly Consultation No 45 (fca.org.uk) |
Context
The FCA has published a brief Quarterly Consultation Paper CP 24/18 proposing two minor amends in relation to access to cash (a consequential amendment to the definition of ‘firm’) and widening Long Term Asset Fund (LTAF) access.
Key points to note and next actions
- In relation to access to cash, there is a proposed amendment to the FCA Handbook Glossary definition of ‘firm’ to clarify that designated coordination bodies fall within the remit of EG and DEPP.
- In relation to the LTAF, the proposed amends are to allow a non-UCITS retail scheme to be exposed to long-term asset funds (LTAFs) without the constraints of the second scheme rules. An LTAF is an authorised open-ended fund that allows UK investors to access long-term illiquid assets.