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AIC welcomes exclusion of VCTs and offshore investment companies from marketing restrictions

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The Association of Investment Companies (AIC) has welcomed the Financial Conduct Authority’s confirmation that venture capital trusts (VCTs) and offshore investment companies will not be subject to the UCIS (unregulated collective investment schemes) marketing restrictions.

 
These restrictions will ban the promotion of UCIS and similar funds to ordinary retail investors in the UK.
 
Ian Sayers (pictured), director general of the Association of Investment Companies, says: “We very much appreciate confirmation of the FCA’s policy intention to exclude VCTs and offshore investment companies from the marketing restrictions. This is important for the investment company sector and allows ordinary retail investors to continue to access the benefits of VCTs and offshore investment companies.  We look forward to working with the FCA to make sure the rules deliver this policy intention.”

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