Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what controls, protections and safeguards are in place for investors in unregulated funds operating in the UK financial services sector.

Unregulated collective investment schemes are, by their very nature, not subject to direct regulation by the FCA (and previously, the FSA).

However, for this reason, the promotion of unregulated collective investment schemes is subject to strict controls. These schemes may not be promoted to the general public but only to customers who meet specified criteria. Retail investors – the investors of ordinary means and experience who make up the vast majority of the retail market in the UK – should not receive promotions for unregulated collective investment schemes.