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FSC plans fund changes

The Financial Supervision Commission says it’s in discussions with the Funds Review Group over proposed new fund products.

New laws are being put together to create the new funds and the group says it’s happy with the progress being made on the Collective Investment Schemes Bill.

One of the issues that still has to be sorted out is the transitional arrangements applying to Experienced Investor Funds.

Both the FSC and the Fund Management Association are hoping to conclude discussions by mid-July 2007 before allowing a period for final consultation before submitting the changes to Tynwald.

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