Asset Management and Investment FundsJanuary 10, 2019
Briefing for Funds Marketed in the UK
For further information on any of the issues discussed in this publication please contact the related contact(s) on this page.
The FCA has opened the notification period for funds and firms wishing to continue to market and provide services into the UK under the proposed Temporary Permissions Regime (“TPR”) in the event of a no-deal Brexit.
Notifications must be made using the FCAs Connect system between 7 January 2019 and 28 March 2019 inclusive.
FCA Connect Login/Registration:
https://www.fca.org.uk/firms/connect
The FCA issued specific a guide on how to complete such a registration which can be found here
The FCA clarified in December that the TPR will also be available to additional UCITS sub-funds which are able to demonstrate that at least one other sub-fund in their umbrella has registered with the FCA and opted into the TPR before March 29 2019, allowing such additional UCITS sub-funds to register and market additional sub-funds within the registered umbrella in the UK post-Brexit.
The draft instrument and accompanying explanatory memorandum are available here:
Draft S.I. - Clarification to TPR provisions December 2018
If you have any questions in relation to the above please contact a member of the Foreign Registrations Team or your usual contact at Dillon Eustace.
DISCLAIMER: This document is for information purposes only and does not purport to represent legal advice. If you have any queries or would like further information relating to any of the above matters, please refer to the contacts above or your usual contact in Dillon Eustace.
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