CIS 3.2 Drawing up and availability of prospectus

A prospectus must contain the matters specified in CIS 3.5 (Information to be contained in the prospectus) and it must be drawn in English and published as a document up by the authorised fund manager and, in the case of an ICVC, approved by the directors.

A prospectus must not contain any other matter unless the inclusion of it is expressly contemplated in the rules in this sourcebook.

A revised prospectus is subject to this rule as if it were a new prospectus whether or not the revisions were required under CIS 3.4 (Revision of and changes to prospectus).2

An ICVC or the manager of an AUT must supply a copy of the prospectus drawn up in accordance with CIS 3.2.1 R (Drawing up of prospectus) free of charge:

1. (a)

   to any person on request; and

2. (b)

   to the FSA.

An ICVC which is a UCITS scheme, or the manager of an AUT which is a UCITS scheme:

1. (a)

   must not market units in the territory of another EEA State unless a prospectus has been drawn up in an official language of that EEA State and, in the case of an ICVC, approved by the directors; and

2. (b)

   must supply the prospectus to any purchaser of units free of charge on request.

An authorised fund manager must, upon the request of a holder in a UCITS scheme, provide information supplementary to the prospectus of that scheme relating to:

1. (a)

   the quantitative limits applying in the risk management of that scheme;

2. (b)

   the methods used in relation to (a); and

3. (c)

   any recent development of the risk and yields of the main categories of investment.12