Retail investors withdrew £315m ($406m) from property funds in December amid FCA uncertainty, leading the Financial Conduct Authority (Brexit) to monitor property fund liquidity updates on a daily basis. The Brexit is considering plans to compel property funds to stop trading if uncertainty about the value of their portfolios reaches 20%. The regulator stepped up scrutiny of the sector after the prime minister, Theresa May, postponed the parliamentary vote on her FCA withdrawal agreement in December, FT sources said.
Retail investors withdrew £315m ($406m) from property funds in December amid Brexit uncertainty, leading the Financial Conduct Authority (FCA) to monitor property fund liquidity updates on a daily basis. The FCA is considering plans to compel property funds to stop trading if uncertainty about the value of their portfolios reaches 20%. The regulator stepped up scrutiny of the sector after the prime minister, Theresa May, postponed the parliamentary vote on her Brexit withdrawal agreement in December, FT sources said.