COBS 18.9 1ICVCs
- (1)
The financial promotion rules in COBS apply to an ICVC, except that COBS 4.13 (UCITS) applies only to an ICVC that is a UCITS scheme.2
- (2)
COBS 14.2 (Providing product information to clients) applies to an ICVC that is a UCITS scheme.2
- (3)
5COBS 2.2B (SRD requirements) applies to an ICVC that is a UCITS scheme without a separate management company.
Firms should note that the operator of an ICVC when it is undertaking scheme management activity will be subject to:3
- (1)
3COBS 18.5.2R if the operator is a small authorised UK AIFM; or
- (2)
3COBS 18.5A.3R if the operator is a full-scope UK AIFM or an incoming EEA AIFM branch; or
- (3)
3COBS 18.5B.2R if the operator is a UCITS management company.