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You are viewing the version of the document as on 2023-01-01.

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    2023-01-01

FUND 1.1 Application and purpose

FUND 1.1.1R
  1. (1)

    1The application of this sourcebook is summarised at a high level in the following table. The detailed application is provided in each chapter.

    Type of firm

    Applicable chapters

    full-scope UK AIFM of an unauthorised AIF

    Chapters 1, 3 and 10

    full-scope UK AIFM of an authorised AIF

    Chapters 1, 3 and 10

    full-scope UK AIFM of an LTIF3

    2

    Chapters 1, 3, 4.2 and 102

    3

    3

    full-scope UK AIFM of a non-UK AIF3

    Chapters 1, 3 and 10

    small authorised UK AIFM of anauthorised AIF

    Chapter 1

    small authorised UK AIFM of an unauthorised AIF

    Chapter 1

    3

    3

    depositary of an AIF managed by a full-scope UK AIFM

    Chapters 1 and 3

    depositary of an LTIF3 managed by a full-scope UK AIFM2

    Chapters 1, 3 and 4.22

    3

    2

    3

    2
  2. (2)

    A residual CIS operator is not subject to the requirements in FUND.

  3. (3)

    FUND 10 will apply to a UK AIFM 3which intends to 3market on a cross-border basis.

Compatibility with AIFMD and the AIFMD level 2 regulation

FUND 1.1.2R

Handbook rules which conflict with either a rule which transposed3 AIFMD or a provision in the AIFMD level 2 regulation are modified to the extent necessary to be compatible with those rules and provisions3.

Interaction between FUND and COLL

FUND 1.1.3G

A full-scope UK AIFM of an authorised AIF is subject to the requirements in FUND and COLL. The effect of FUND 1.1.2 R is that if a rule in COLL which applies to a UK AIFM, an ICVC that is an AIF, or a UK depositary of an AIF conflicts with either a rule in FUND transposing AIFMD or the AIFMD level 2 regulation, the COLL rule is modified to the extent necessary to be compatible with the FUND rule or the AIFMD level 2 regulation.