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CIS 18.1 Introduction


CIS 18.1.1R

3This chapter applies to:

  1. (1)

    every person seeking an authorisation order for, or recognition of, a collective investment scheme;

  2. (2)

    every manager of an authorised unit trust;

  3. (3)

    every ACD of an ICVC; and

  4. (4)

    every person who, under the constitution or founding arrangements of a recognised scheme, is responsible for the management of the property held for or within the scheme;12


CIS 18.1.2G

The purpose of this chapter is to set out the requirements for the payment of fees relating to collective investment schemes.1


CIS 18.1.3G

GEN 3 (FSA Fees ? General Provisions) applies to fees required by this chapter and explains how the FSA sets fees.12

CIS 18.1.4G

Most of the detail of the fees payable in relation to a collective investment scheme is set out in CIS 18 Annex 1 R. The provisions of the Annex may vary from one financial year to another. Accordingly a fresh CIS 18 Annex 1 R will come into force, following consultation, for each financial year.12

CIS 18.1.5G

The fees for collective investment schemes reflect the estimated costs to the FSA of assessing applications and notifications, considering proposals to change regulated collective investment schemes, maintaining up to date records about them, and related policy work. 12

CIS 18.1.6G

The level of fees payable in respect of an application or a notification will vary depending upon the provision of the Act under which it is made. This fee is adjusted when the scheme concerned is an umbrella scheme.12