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 9.4 Facilities in the United Kingdom

General

COLL 9.4.1RRP
  1. (1)

    The operator of a recognised scheme 5must maintain facilities in the United Kingdom in order to satisfy the requirements of COLL 9.4.2 R to COLL 9.4.6 R.

    4
  2. (2)

    In this section, a facility is a place of business that complies with COLL 9.4.6 R (Place of facilities).

Documents

COLL 9.4.2RRP
  1. (1)

    The operator of a recognised scheme must maintain facilities in the United Kingdom for any person, for inspection (free of charge) and for the obtaining (free of charge, in the case of the documents at (c), (d) and (e)3, and otherwise at no more than a reasonable charge) of copies in English of:

    3
    1. (a)

      the instrument constituting the fund;4

      4
    2. (b)

      any instrument amending the instrument constituting the fund;4

      4
    3. (c)

      the latest prospectus (which must include the address where the facilities are maintained and details of those facilities);

    4. (d)

      for a recognised scheme which is an EEA UCITS scheme5, the EEA key investor information document;1 and

      1
    5. (e)

      the latest annual and half-yearly reports.

  2. (1A)

    [deleted]5

    2
  3. (2)

    In relation to notices and documents sent by operators and depositaries to and from the United Kingdom, COLL 4.4.12 R (Notice to Unitholders) and COLL 4.4.13 R (Other notices) apply.

Price and redemption

COLL 9.4.3RRP
  1. (1)

    The operator must maintain facilities in the United Kingdom for any person where:

    1. (a)

      information in English can be obtained about prices of units in the scheme; and

    2. (b)

      a participant may redeem or arrange for redemption of units in the scheme and obtain payment.

  2. (2)

    An operator is treated as complying with paragraph (1) if it ensures participants may sell their units on an investment exchange at a price not significantly different from net asset value; and if so, must inform participants of the investment exchange.

COLL 9.4.4RRP

[deleted]6

Complaints

COLL 9.4.5RRP

The operator must maintain facilities in the United Kingdom, at which any person who has a complaint to make about the operation of the scheme can submit his complaint for transmission to the operator.

Place of facilities

COLL 9.4.6RRP
  1. (1)

    The address of the facilities maintained by the operator in accordance with this section and the details of the facilities so maintained must be stated in the prospectus of the scheme.

  2. (2)

    The address of the facilities referred to in (1) must be the address of the operator's principal place of business in the United Kingdom, or, if there is no such address,such other address in the United Kingdom where the operator can be contacted.4

    4
  3. (3)

    [deleted]4

    4