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FCA eyes commission ban on VCTs and EIS

Source: professionaladviser.com

The UK's Financial Conduct Authority (FCA) is considering a ban on commissions for Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EIS).
This move aims to protect retail investors from high-pressure sales tactics linked to these tax-advantaged schemes.
A ban could reshape how these investments are marketed, potentially reducing access for some savers.

The FCA is consulting on banning upfront commissions paid to advisers for recommending VCTs and EIS, which are schemes offering tax relief to encourage investment in small businesses. These payments, often 10-20% of invested funds, have raised concerns about biased advice. The regulator wants to eliminate conflicts of interest, similar to past bans on insurance commissions, to better protect everyday investors.