The Financial Conduct Authority consults on changes to guidance for closed-ended investment funds

The Financial Conduct Authority (FCA) has issued a guidance consultation (GC19/4) on changes that it proposes to make to the Knowledge Base, its repository of non-handbook commentary that has the status of formal FCA guidance. The FCA proposes to amend its existing technical note on master-feeder structures (FCA/TN/409.1) and add a new technical note on class testing changes to an investment management agreement (IMA) where there are unquantifiable benefits (FCA/TN/411.1). The proposals are summarised in Primary Market Bulletin No. 24. The consultation closes on 14 November 2019.


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