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.

COLL 1.1 Applications and purpose

Application

COLL 1.1.1GRP
  1. (1)

    This sourcebook, except for COLL 9 (Recognised schemes), applies to:

    1. (a)

      investment companies with variable capital (ICVCs);

    2. (b)

      ACDs, other directors and depositaries of ICVCs;

      3
    3. (c)

      managers and trustees of authorised unit trust schemes (AUTs); and63

      4
    4. (cA)

      authorised fund managers, depositaries and nominated partners of authorised contractual schemes (ACSs).6

      4
    5. (d)

      [deleted]6

      3
  2. (2)

    COLL 9 applies to operators of schemes that are recognised schemes and to those seeking to secure recognised status for such schemes.

  3. (3)

    COLL 11.5 (Auditors) also applies to auditors of master UCITS and feeder UCITS which are UCITS schemes.3

  4. (4)

    [deleted]6

    3
  5. (5)

    COLL TP 1.1(48) contains transitional provisions that apply in relation to any scheme that will need to become a regulated money market fund in accordance with the Money Market Funds Regulation, and which operates as a scheme prior to 21 July 2018.5

COLL 1.1.1ARRP

[deleted]6

1
COLL 1.1.1BRRP

[deleted]6

COLL 1.1.1CGRP

[deleted]6

34444

Purpose

COLL 1.1.2GRP
  1. (1)

    The general purpose of this sourcebook is to contribute to the FCA meeting its statutory objectives of the protection of consumers. It provides a regime of product regulation for authorised funds, which sets appropriate standards of protection for investors by specifying a number of features of those products and how they are to be operated.

  2. (2)

    In addition, this sourcebook implemented6 part of the requirements of the UCITS Directive 6relevant to authorised funds and management companies,3 along6 with other requirements implemented in other parts of the Handbook.

    22

UCITS management company and product passport

COLL 1.1.2AGRP

[deleted]6

3

The Collective Investment Schemes Information Guide

COLL 1.1.3GRP

The Collective Investment Schemes Information Guide COLLG provides some general background material on the regulatory structure surrounding scheme regulation in the UK.