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COLL 2.1 Authorised fund applications

Application

COLL 2.1.1 R RP

This chapter applies to any person seeking to arrange for the authorisation of a scheme.

Purpose

COLL 2.1.2 G RP

This chapter helps in achieving the statutory objectives of protecting consumers by ensuring that any application for authorisation of a fund meets certain standards.

Explanation

COLL 2.1.3 G RP
  1. (1)

    This chapter sets out the requirements that a person must follow in applying for an authorisation order for a scheme under regulation 12 of the OEIC Regulations (Applications for authorisation),2section 242 of the Act (Applications for authorisation of unit trust schemes) or section 261C of the Act (Applications for authorisation of contractual schemes)2.

    2
  2. (2)

    COLLG 3A (The FCA’s responsibilities under the Act) and COLLG 4A (The FCA’s responsibilities under the OEIC Regulations) provide more information on what the Act and the OEIC Regulations require in relation to ongoing notifications to the FCA.3

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Specific requirements on application

COLL 2.1.4 D RP

An application for an authorisation order in respect of an authorised fund must be:

  1. (1)

    in writing in the manner directed and contain the information required in the application form available from the FCA;

  2. (2)

    addressed for the attention of a member of FCA staff responsible for collective investment scheme authorisation matters; and

  3. (3)

    delivered to the FCA'saddress by one of the following methods:

    1. (a)

      posting; or

    2. (b)

      leaving it at the FCA's address and obtaining a time-stamped receipt; or

    3. (c)

      delivery by hand to a member of FCA staff responsible for collective investment scheme authorisation matters.

Application by an EEA UCITS management company to manage a UCITS scheme

COLL 2.1.5 G RP

1An EEA UCITS management company that proposes to act as the authorised fund manager2 of an AUT, ACS or2ICVC that is a UCITS scheme, should be aware that it is required under paragraph 15A(1) of Schedule 3 to the Act to apply to the appropriate regulator for approval to do so. The form that the firm must use for this purpose is set out in SUP 13A Annex 3 R (EEA UCITS management companies: application for approval to manage a UCITS scheme established in the United Kingdom). In addition, those firms are required to provide to the appropriate regulator certain fund documentation, as specified by COLL 12.3.4 R (Provision of documentation to the FCA:2EEA UCITS management companies).

2 2 2

[Note: article 20(1) of the UCITS Directive]