Industry response

Retail CCDS - BSA response to FCA CP 14/23

Restrictions on the retail distribution of regulatory capital instruments

The BSA broadly welcomed FCA's proposals for the retail distribution of mutual shares such as CCDS (Core Capital Deferred Shares ), but calls for the new rules to be finalised quickly, and for the ceiling on individual investor holdings to be raised from 5 % to 10% of net investable wealth, in line with the similar regime for crowd funding.

Read the BSA's response here :

Read the FCA's CP here :


Jeremy Palmer

Head of Financial Policy

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