HICL Infrastructure confirms position under new FCA rules

6th Jan 2014 07:03

HICL Infrastructure Company on Monday issued a statement on changes to the Financial Conduct Authority (FCA) rules relating to the restrictions on the retail distribution of unregulated collective investment schemes and close substitutes.The new rules came into effect on January 1st of this year."Following the receipt of legal advice, the board confirms that it conducts the company's affairs, and intends to continue to conduct the company's affairs, such that the company would qualify for approval as an investment trust if it were resident in the UK," HICL said. "It is the board's intention that the company will continue to conduct its affairs in such a manner and that IFAs [independent financial advisors] should therefore be able to recommend its ordinary shares to ordinary retail investors in accordance with the FCA's rules relating to non-mainstream investment products."NR