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 3.1 Introduction



This chapter applies to:

  1. (1)

    an authorised fund manager of an AUT, ACS1 or an ICVC;

  2. (2)

    any other director of an ICVC;

  3. (3)

    a depositary of an AUT, ACS1 or an ICVC; and

  4. (4)

    an ICVC,

where the AUT, ACS1 or ICVC is a UCITS scheme or a non-UCITS retail scheme.



This chapter assists in achieving the statutory objective of protecting consumers. In particular:

  1. (1)

    COLL 3.2 (The instrument constituting the fund2) contains requirements about provisions which must be included in the instrument constituting the fund2 to give a similar degree of protection for investors in an ICVC, AUT or ACS;1 and

  2. (2)

    COLL 3.3 (Units) provides rules and guidance which deal with the classes of units to ensure that investors in each class are treated equally.