COLL 1.1 Applications and purpose
Application
- (1)
This sourcebook, except for COLL 9 (Recognised schemes), applies to:
- (a)
- (b)
ACDs, other directors and depositaries of ICVCs;
3 - (c)
managers and trustees of authorised unit trust schemes (AUTs); and63
4 - (cA)
authorised fund managers, depositaries and nominated partners of authorised contractual schemes (ACSs).6
4 - (d)
[deleted]6
3
- (2)
COLL 9 applies to operators of schemes that are recognised schemes and to those seeking to secure recognised status for such schemes.
- (3)
COLL 11.5 (Auditors) also applies to auditors of master UCITS and feeder UCITS which are UCITS schemes.3
- (4)
[deleted]6
3 - (5)
COLL TP 1.1(48) contains transitional provisions that apply in relation to any scheme that will need to become a regulated money market fund in accordance with the Money Market Funds Regulation, and which operates as a scheme prior to 21 July 2018.5
Purpose
- (1)
The general purpose of this sourcebook is to contribute to the FCA meeting its statutory objectives of the protection of consumers. It provides a regime of product regulation for authorised funds, which sets appropriate standards of protection for investors by specifying a number of features of those products and how they are to be operated.
- (2)
In addition, this sourcebook implemented6 part of the requirements of the UCITS Directive 6relevant to authorised funds and management companies,3 along6 with other requirements implemented in other parts of the Handbook.
22