Collective Investment Schemes: Regulation

(asked on 11th September 2023) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what regulatory framework is in place to supervise (a) unregulated collective investment schemes and (b) the promotion of those schemes.


Answered by
Andrew Griffith Portrait
Andrew Griffith
Minister of State (Department for Science, Innovation and Technology)
This question was answered on 18th September 2023

The UK’s financial promotions regime, underpinned by Section 21 and Section 238 of the Financial Services and Markets Act 2000 (FSMA), seeks to ensure that consumers are provided with clear and accurate information that enables them to make appropriate decisions for their individual circumstances. Under this regime, the FCA has imposed rules on the promotion of unregulated collective investment schemes, including that such schemes cannot be promoted to ordinary members of the public.

Enforcement relating to the promotion of unregulated collective investment schemes is generally a matter for the FCA, which is operationally independent from the Government. These questions have therefore been passed to the FCA who will respond directly to the honourable Member by letter. A copy of the letter will be placed in the Library of the House.

Reticulating Splines