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permitted scheme interests

  1. 59(a) 122[deleted]122
    1. (b) in respect of a firm’s 207business with linked policyholders122 any of the following:
      1. (i) an authorised fund, except a long-term asset fund207;
      2. (ii) a recognised scheme;
      3. (iii) a 63scheme falling within the UCITS Directive;63
      4. (iv) a non-UCITS retail scheme;
      5. (v) a qualified investor scheme or its EEA equivalent or any unregulated collective investment scheme that invests only in permitted links and publishes its prices regularly, provided that either:199
        1. (A) no more than 20% of the gross assets of the linked fund are so invested; or199
        2. (B) provided that the firm treats it as a conditional permitted link and meets the conditions in COBS 21.3.16R and the requirements in COBS 21.3.20R and COBS 21.2.4R(3), it complies with the aggregated limit in COBS 21.3.19R.199