COLL 1.1 Applications and purpose
Application
-
(1)
This sourcebook, except for COLL 9 (Recognised schemes), applies to:
- (a)
- (b)
ACDs, other directors and depositaries of ICVCs; and
- (c)
managers and trustees of authorised unit trust schemes (AUTs).
-
(2)
COLL 9 applies to operators of schemes that are recognised schemes and to those seeking to secure recognised status for such schemes.
Purpose
-
(1)
The general purpose of this sourcebook is to contribute to the FSA meeting its regulatory objective 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)
In addition, this sourcebook implements part of the requirements of the UCITS Directive to meet community obligations relevant to authorised funds, with other requirements implemented in other parts of the Handbook.