The City of London Law Society (CLLS) has published the response of its Regulatory Law Committee to the FCA Consultation Paper 14/23: Restrictions on the retail distribution of regulatory capital instruments.

In its response, the CLLS criticises the scope of the proposed prohibition on the distribution of contingent convertible securities and the FCA’s proposal to place restrictions on firms seeking to distribute mutual society shares to retail investors.

View CLLS response to FCA CP14/23: Restrictions on the retail distribution of regulatory capital instruments, 23 February 2015