From a fund provider’s perspective, the Association of Real Estate Funds (AREF) welcomed the FCA’s initiative.
“The discussion paper is a timely development for the property funds industry and follows on from our own work to maintain a regulatory landscape that works in the best interests of its clients,” said chief executive John Cartwright.
“Last year, the AREF commissioned an independent report to assess the impact of the UK’s decision to leave the European Union on the real estate market and evaluate whether any improvements to regulation or fund structures could be made.
“The primary focus of this research, which is due to be published for public consultation in March, is to ensure that our industry continues to provide comprehensive investor protection and deliver the best possible outcomes for our clients.
“We will be responding to the discussion paper in due course and we look forward to working with the FCA to identify any areas where ‘best practice’ could be established, either by the industry itself or by the regulator.”
