Britain considers new rules for funds

The UK Financial Services Authority (FSA) and British treasury looking at ways in which retail-oriented funds of alternative investment funds (FAIFs) can grow in the UK. The FSA is consulting on proposals to introduce FAIFs as part of the existing non-Ucits retail schemes regime. This will allow retail consumers greater access to funds investing in long/short strategies. The FSA is also proposing FAIFs be allowed to be feeder funds In a separate move the treasury is to introduce regulations