News

Crown guarantee may not cover investments in wraps

Friday 30th of July 2010

The crux of the matter is whether OneAnswer is a bare trust, where providers of trustee and nominee services hold funds on behalf of other people and have no discretion over the investment of the securities and no beneficial interest in them, according to the Treasury website. The trusts are covered by the guarantee, provided that the bare trustee can demonstrate that the beneficiary of the bar...

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