UK regulator launches consultation on Russia side pockets

James Baxter-Derrington
clock • 2 min read

The Financial Conduct Authority has opened a consultation into rules that would allow UCITS and non-UCITS retail schemes to side pocket assets affected by the Russian invasion of Ukraine and associated sanctions. This consultation is seeking feedback on the processes that would allow funds to carve out Russian, Belarusian and Ukrainian assets from the main investment pool, allowing existing investors to sell the unaffected assets, if desired, and allowing new investors to enter the funds without gaining exposure to these hard-to-value assets. As part of the process to create a side po...

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