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FSA to restrict VCT and EIS sales
by Annabelle Williams on Oct 18, 2012 at 09:30
Ben Blackett-Ord, chief executive of regulation consultancy Bovill, said he could see an argument for EIS fitting under the FSA’s rules but not VCTs.
‘I think EIS are much more likely to fit the description because the thing is a pooling, they are clearly high risk and I think the FSA is likely to be concerned about the kind of individual that ends up investing in them,’ he said.
‘A VCT is a listed company, it is effectively an investment trust. It wouldn’t seem to us to be appropriate but we suspect that they might unlist in some circumstances.’
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