FCA publishes rules to protect investors in authorised funds following the invasion of Ukraine

Following its consultation earlier this year, the FCA has published final rules and guidance to allow authorised fund managers to create side pockets for retail investment funds affected by the Russian invasion of Ukraine. The new Handbook rules will allow relevant funds to use side pockets where their Russian, Belarusian and Ukrainian exposures are subject to financial sanctions or cannot be valued or traded.

The new rules will take effect on 11 July 2022.

Lucy Hadrill