Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

COBS 14.4 Provision of information by an intermediate Unitholder

COBS 14.4.1

[not used]3

COBS 14.4.2

[not used]3

COBS 14.4.3

[not used]3

COBS 14.4.4

[not used]3

COBS 14.4.5

[not used]3

COBS 14.4.6

[not used]3

COBS 14.4.7

[not used]3

COBS 14.4.8

[not used]3

COBS 14.4.9

[not used]3

Information requests by authorised fund managers for liquidity management purposes

COBS 14.4.10RRP

If an intermediate Unitholder receives a reasonable request from an authorised fund manager for information relating to the beneficial owners of the units of a scheme that it operates which the authorised fund manager reasonably needs for the purposes of liquidity management, the intermediate Unitholder must provide that information to the authorised fund manager as soon as is reasonably practicable.

COBS 14.4.11GRP

Examples of information which may be reasonably requested by an authorised fund manager include:

  1. (1)

    a breakdown of the total number of units held by the intermediate Unitholder in each scheme to indicate the number of units attributable to individual beneficial owners; and

  2. (2)

    information about the types of distribution channel which have been used to sell the units to the relevant beneficial owners.

COBS 14.4.12GRP

In determining whether a request from an authorised fund manager is reasonable, an intermediate Unitholder may take into account the frequency with which such requests have been received from that authorised fund manager.