CIS managers warned against breaching the portfolio exposure limits
The exceptions to the exposure limits do not apply when the limits are breached because distributions are re-invested, the FSCA says.
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
Read moreThe exceptions to the exposure limits do not apply when the limits are breached because distributions are re-invested, the FSCA says.
The 75% investment limit in Board Notice 52 inadvertently excluded the establishment of retail feeder hedge funds as a portfolio style.