Related provisions for COLL 3.2.8
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(1) A charity authorised investment fund may be: (a) a UCITS scheme; or(b) a non-UCITS retail scheme;2(c) a qualified investor scheme; or2(d) a long-term asset fund.2(2) A charity authorised investment fund may be structured as:(a) an authorised unit trust (AUT); or(b) an investment company with variable capital (ICVC); or(c) an authorised contractual scheme (ACS).
A firm, 6a payment service provider or an e-money issuer,5 must keep a record of each complaint received and the measures taken for its resolution, and retain that record for:3245(1) at least five years where the complaint relates to4collective portfolio management services for a UCITS scheme or a scheme which, immediately before IP completion day7,6 or an EEA UCITS scheme; and32(2) three years for all other complaints;3from the date the complaint was received.3Note:4 article
(1) A firm must ensure that a financial promotion addressed to a client is clearly identifiable as such.[Note: article 24(3)4 of MiFID, article 17(2) of the IDD5 and article 77 of the UCITS Directive]3(2) If2 a financial promotion relates to a2firm'sMiFID, equivalent third country or optional exemption business4, this rule does not apply to the extent that the2financial promotion is a third party prospectus.2(3) If2 a financial promotion relates2 to a 2 firm's business that is
This section2 applies:935510(1) in relation to sales data reports, to a firm:1010(a) which is a home finance provider; or(aa) 14which is a P2P platform operator which facilitates entry into a regulated mortgage contract, home purchase plan, home reversion plan or regulated sale and rent back agreement where the lender or provider does not require permission to enter into the transaction; or(b) which has permission to enter into a regulated credit agreement as lender in respect
1A firm that sells, or (where relevant) gives effect to22:(1) a non-PRIIP packaged product17 to a retail client, must provide a key features document and a key features illustration2 to that client (unless the packaged product is a unit in a regulated collective investment scheme17);777(2) a life policy to a client, must provide:20131313(a) the Solvency II Directive information to that client;20(b) a client with objective and relevant information about the policy:20(i) in a comprehensible
(1) 7This rule applies to:17(a) an authorised fund manager of a UCITS scheme or a KII-compliant NURS that is either an authorised unit trust, authorised contractual scheme or an ICVC; and17(b) an ICVC that is a UCITS scheme or KII-compliant NURS.1712(2) An authorised fund manager and an ICVC in (1) that sells units in a UCITS scheme or a KII-compliant NURS17 directly, or through another natural or legal person who acts on its behalf and under its full and unconditional responsibility,
11For complaints related to collective portfolio management services of a UK UCITS management company for a UCITS scheme or a scheme which, immediately before IP completion day31, was30 an EEA UCITS scheme, DISP 1.1.3R (1) applies, except where modified as follows:(1) the consumer awareness rules, complaints handling rules and complaints record rule apply in respect of complaints from Unitholders rather than from eligible complainants; and(2) [deleted]30
10For a management company or a full-scope UK AIFM14, the arrangements, processes and mechanisms referred to in SYSC 4.1.1 R and SYSC 4.1.1A R14 must also take account of the UCITS schemes25managed by the management company or the AIFs managed by the full-scope UK AIFM14.[Note: article 12(1) second paragraph of the UCITS Directiveand article 18(1) second paragraph of AIFMD14]
Some of the distinguishing features of notices given under enactments other than the Act are as follows: (1) [deleted]66(2) [deleted]66(3) Friendly Societies Act 1992, section 58A1: The warning notice and decision notice must set out the terms of the direction which the FCA6 proposes or has decided to give and any specification of when the friendly society is to comply with it. A decision notice given under section 58A(3) must give an indication of the society's right, given by
(1) When notifying the FCAof any irregularities in accordance with COLL 11.4.3R (1), the depositary of the master UCITS should also inform the depositary of the feeder UCITS how the master UCITS or its authorised fund manager has resolved or proposes to resolve the irregularity.(2) Where the depositary of a UCITS scheme that is a feeder UCITS is informed by the depositary of a master UCITS of an irregularity and is not satisfied that the resolution or proposed resolution is in
Subject to CASS 1.4.6 R, 5CASS applies to a depositary, when acting as such, with the following general modifications9: 'client' means 'trustee', 'trust', 'AIF', 'AIFM acting on behalf of the AIF', ‘UCITS scheme’, ‘authorised fund manager acting on behalf of the UCITS scheme’, 9or 'collective investment scheme', as appropriate.555
(1) To introduce a new charge for the sale or redemption of units, or any new category of remuneration for its services or increase the rate stated in the prospectus, the authorised fund manager will need to comply with COLL 4.2.5 R (Table: contents of prospectus) and COLL 4.3 (Approvals and notifications).(2) A redemption charge may be expressed in terms of amount or percentage. It may also be expressed as diminishing over the time during which the unitholder has held the units
(1) The following are to be disregarded for the purposes of determining whether a person has a notification obligation in accordance with the thresholds in DTR 5.1.2 R except at the thresholds of 5% and 10% and above:(a) voting rights attaching to shares forming part of property belonging to another which that person lawfully manages under an agreement in, or evidenced in, writing;(b) voting rights attaching to shares which may be exercisable by a person in his capacity as the
(1) 4A firm must ensure that, if appointing an appointed representative (other than an introducer appointed representative), to carry on any of the following regulated activities, its written contract prohibits the appointed representative from carrying on any of the specified activities as an appointed representative for another firm:4(a) any designated investment business for retail clients7: the prohibition must cover all designated investment business for retail clients7;477(b)
(1) This chapter assists in achieving the statutory objective of protecting consumers by providing an appropriate degree of protection in respect of authorised funds that are only intended for investors that are, in general, prepared to accept a higher degree of risk in their investments or have a higher degree of experience and expertise than investors in retail schemes.(2) This section ceases to apply where a qualified investor scheme has converted to be authorised as a UCITS
(1) If a scheme of arrangement is entered into in relation to an authorised fund ("transferor fund") or a sub-fund of a scheme which is an umbrella ("transferor sub-fund"), an authorised fund manager must ensure that the unitholders of the transferor fund or sub-fund do not become unitholders of units in a collective investment scheme other than a regulated collective investment scheme.(2) For a UCITS scheme or a sub-fund of a UCITS scheme, (1) applies as if the reference to a