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Review of FSMA to allow HNW clients to self-certify as sophisticated investors

High net worth clients will be able to certify themselves as sophisticated investors in order to sink cash into private equity under changes planned in the review of the Financial Services and Markets Act.

Under the proposals, companies seeking private equity funding will be able to promote opportunities directly to high net worth clients. To do this investors will have to self-certify as sophisticated in order to take regulatory responsibility away from intermediaries.

The new rules will be presented by the Treasury later this month.


FSA drops threat over splits for firms in £194m fund deal

The 18 firms that have signed up to the FSA dealAberdeen Asset ManagersABN AMRO EquitiesBrewin Dolphin SecuritiesBritannic Investment ManagersCollins StewartEdinburgh Fund ManagersF&C Asset Management (formerly Isis)Framlington Investment ManagementGartmoreGovett Investment Management now AIB Investment Management)HSBC Investment Residuary(formerly HSBC Investment Bank)Jupiter Asset ManagementLegg Mason Investments (Europe)Morley Fund ManagementNew Star Asset ManagementPremier Fund ManagersRoyal London Asset ManagementUBS AG […]

IFAs are split on Severn

The IFA community is split down the middle over the appointment of FSA head of retail investment policy David Severn as Aifa director-general. A Money Marketing survey of 182 IFAs found that 48 per cent are in favour of Severn’s appointment while 52 per cent are against it. Severn, the architect of depolarisation as well […]

Buy to let will continue to be strong in 2005 says Paragon

Landlords expect another year of growth in 2005, with numbers of properties owned expected to increase by 5 per cent over the next 12 months says Paragon Mortgages.Professional landlords buy in response to identified tenant demand and recent signs of a more positive trend in landlord rental incomes as recorded by RICS and Paragon Mortgages […]

Severn is up to the challenge

Your editorial challenges the wisdom of David Severn’s appointment as Aifa director general on the grounds that he is not a practising IFA. It is a matter of history that Paul Smee, when appointed, was in a similar situation but clearly had all the skills to deal with the challenges presented by the regulator and […]


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