"Tens of thousands of investors who have ploughed more than £60bn into EU-based funds will not be covered by the compensation scheme post-Brexit in a serious blow to consumer protection.
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... The government has now decided that investors in EU funds, such as Dublin-based Lindsell Train Global Equity and Polar Capital Global Technology, will not have recourse to the Financial Services Compensation Scheme (FSCS).
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... From January, UK investors will have to apply to foreign compensation authorities to get their money back if a product blows up."
https://citywire.co.uk/funds-insider/news/government-to-cut-protections-for-investors-in-eu-based-funds/a1431109
The article doesn't state if this also applies to Dublin domiciled ETFs but I'd have thought so. Can't say it particularly worries me in respect of my Irish domiciled Lindsell Train, Vanguard, iShares & SPDR holdings, but I guess it is something to at least be aware of .....
Also posted on ITs & UTs board at viewtopic.php?f=54&t=26443, any discussion over there please.
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X-post: Government to cut protections for investors in EU-based funds
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Re: X-post: Government to cut protections for investors in EU-based funds
mc2fool wrote:"Tens of thousands of investors who have ploughed more than £60bn into EU-based funds will not be covered by the compensation scheme post-Brexit in a serious blow to consumer protection."
The article doesn't state if this also applies to Dublin domiciled ETFs but I'd have thought so.
The only distinction I can think of that would make a difference is between open-ended funds which you buy from and sell to the (foreign) fund manager. And funds traded on the LSE like investment trusts and ETFs, which trade like UK shares regardless of domicile.
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Re: X-post: Government to cut protections for investors in EU-based funds
Moderator Message:
per mc2's request this thread has been locked. It is also posted on ITs & UTs board, please go to viewtopic.php?f=54&t=26443 to provide any responses,
regards,
dspp
per mc2's request this thread has been locked. It is also posted on ITs & UTs board, please go to viewtopic.php?f=54&t=26443 to provide any responses,
regards,
dspp
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