16.10.2019 Other Voices: UK conduct regulator finalizes rules for funds investing in illiquid assets
By: Shearman & Sterling LLP

The U.K. Financial Conduct Authority has finalized new rules governing certain types of open-ended funds that invest in inherently illiquid assets. The rules include:

A new category of "funds investing in inherently illiquid assets" that are subject to additional requirements including enhanced depositary oversight and increased disclosure of liquidity manageme

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