COLL 9.1 Application and general information

1. (1)

   This chapter applies in relation to 2 types of recognised scheme:1

   1. (a)

      a scheme which is individually recognised under section 272 of the Act; and1

   2. (b)

      an OFR recognised scheme, which is a scheme recognised under section 271A of the Act.1

2. (2)

   If a scheme is eligible to apply for recognition as an OFR recognised scheme, it may not apply for recognition under section 272 of the Act, within (1)(a).1

3. (3)

   This chapter enables current and potential operators of recognised schemes to know what information and documents the FCA requires to enable it to determine whether to recognise the scheme under the Act for marketing in the United Kingdom.1

4. (4)

   This chapter also sets out requirements relating to:1

   1. (a)

      the preparation and maintenance of a prospectus for a recognised scheme; and1

   2. (b)

      the facilities that an operator of a recognised scheme must provide to enable current and potential participants in the scheme who are present in the United Kingdom to obtain information and exercise their rights without undue difficulty or expense.1

1The effect of GEN 2.2.32R to GEN 2.2.36G and COLL TP 1.1R(65) is that the rules in COLL 9.4 on facilities continue to apply to a TP UCITS qualifier in relation to a scheme that is a recognised scheme under Part 6 of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019, until such time as that scheme ceases to be a recognised scheme under those Regulations.

The FCA website sets out further information about which categories of overseas collective investment scheme are eligible to apply to the FCA to be recognised schemes under sections 271A and 272 of the Act, how to apply for recognition, and how to give notifications concerning recognised schemes.1

https://www.fca.org.uk/firms/authorised-recognised-funds/apply-fund-recognition1