NB Global Floating Rate Income Fund Non-Mainstream Pooled Investments (2198W)
23 December 2013 - 9:08PM
UK Regulatory
TIDMNBLS TIDMNBCS TIDMNBLU
RNS Number : 2198W
NB Global Floating Rate Income Fund
23 December 2013
23 December 2013
NB GLOBAL FLOATING RATE INCOME FUND LIMITED
NON-MAINSTREAM POOLED INVESTMENTS
Suitability for Retail Distribution
The Board notes the proposed changes to the Financial Conduct
Authority's ("FCA") rules relating to the restrictions on the
retail distribution of unregulated collective investment schemes
and close substitutes which are expected to come into effect on 1
January 2014.
The Board has been advised that the Company would qualify as an
investment trust if it was resident in the UK, and therefore the
Board believes that its shares will be excluded from the
restrictions contained in the proposed new rules, as currently
drafted. It is the Board's intention that the Company will make all
reasonable efforts to continue to conduct its affairs in such a
manner so that its shares can be recommended to ordinary retail
investors in accordance with the FCA's rules relating to
non-mainstream pooled investment products.
The Board has however been advised that no guidance on the
application of the proposed rules to non-UK companies has been
published by the FCA and, further, that the proposed rules may be
subject to change. Any subsequent changes to the assessment of the
application of the proposed rules to the Company will be
communicated via an RIS announcement.
Enquiries:
BNP Paribas Securities Services S.C.A., Guernsey Branch
Sara Bourne
+44 (0)1481 750858
This information is provided by RNS
The company news service from the London Stock Exchange
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