"Built on lie" funds face tougher rules starting in 2020
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LONDON (Reuters) - Britain's markets regulator published tougher rules on Monday for funds that invest in hard-to-sell assets like property, saying investors must get better warnings about the risks they face if they want their money back at short notice.The Financial Conduct Authority (FCA) said it will introduce a new category of funds investing in inherently illiquid assets, or FIIA, from September 2020, confirming proposals made last October."The new rules and guidance are designed to..