I’ve been chasing the FSA with emails and phone calls but cannot seem to find someone within their ranks who can tell me what kind of qualifications i need to be able to lawfully manage 3rd party funds in the UK.
i am currently trading a friends account with LPOA and have recently been offered two new accounts to manage.
can anybody kindly point me towards the information I’m looking for? i simply want to know what process i need to take in order to lawfully solicit for and manage 3rd party funds.
Thank you for taking the time to read my post guys…
I recently called FSA for the same reason. I think that you need to pass CF27 and CF21 with CISI in order to manage and advice people. The major issue I think is about being regulated with FSA. What I mean by that is that you may need a license from FSA in order to operate in UK. I am not sure 100% as I am still trying to get a better view from different people but if you trade on the behalf of clients you need a license that can cost lots of money.
You can check with few umbrella companies in UK that can lend you a license behind a fee to pay.
Good trading and good luck