The Financial Conduct Authority (FCA) is proposing that non-UCITS retail scheme (NURS) funds with at least 50% of their value in inherently illiquid assets, such as direct property, should deal no more than once a month and require investors to give at least 90 days' notice to redeem. The proposals are set out in Consultation Paper CP26/35, Fair redemption terms for authorised funds investing in illiquid assets, published on 8 October 2026. They are not final rules: the FCA i

On 14 July 2026 the Financial Conduct Authority (FCA) published CP26/27, a consultation proposing to replace the three remuneration codes that currently apply to solo-regulated firms with a single, outcomes-focused code at SYSC 19AA. The proposals would take small and non-interconnected (SNI) MIFIDPRU investment firms and smaller alternative investment fund managers (AIFMs) out of remuneration requirements altogether, and would end mandatory remuneration committees, mandatory