COLL Sch 6 Rules that can be waived

1. The rules in COLL can be waived by the FCA under sections 138A and 138B, 250 or 261L2 of the Act (Modification or waiver of rules) or regulation 7 of the OEIC Regulations (Modification or waiver of FCA rules), except COLL 3.2.8R (UCITS obligations) and COLL 6.9.9R2 (Restrictions of business for UCITS management companies).

2. Although the FCA has the formal power of waiver under the Act in relation to these rules, much of COLL implements the requirements of the UCITS Directive by ensuring that relevant authorised funds comply with such requirements. Accordingly, while formal power may exist to waive such UCITS Directive derived rules, the FCA's ability to do so is severely constrained.