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.

FUND 10.1 Application and purpose

Application

FUND 10.1.1G
  1. (1)

    2This chapter applies to the following types of firm in relation to the activities in (2):

    1. (a)

      a full-scope UK AIFM;

    2. (b)

      [deleted]1

    3. (c)

      a small non-UK AIFM1; and

    4. (d)

      an above-threshold non-UK AIFM1.

  2. (2)

    The activities to which this chapter relates are the management and marketing on a cross-border basis, into or from the UK of:

    1. (a)

      a UK AIF; and1

    2. (b)

      a non-UK AIF.1

    3. (c)

      [deleted]1

Purpose

FUND 10.1.2G

The purpose of this chapter is to provide guidance on the requirements that apply to the types of firm set out in FUND 10.1.1 G when operating on a cross-border basis into or from the UK.

Introduction

FUND 10.1.3G

[deleted]1

FUND 10.1.4G

[deleted]1

FUND 10.1.5G
  1. (1)

    There are1 specific provisions for third country AIFs and AIFMs (ie, in relation to non-UK AIFs and non-UK AIFMs1) and the marketing of a UK AIF or a non-UK AIF1 that is a feeder AIF, the master AIF of which is managed by a non-UK AIFM or is a non-UK AIF1.

  2. (2)

    A UK AIFM is1 allowed to manage a non-UK AIF1 from the UK.1

  3. (3)

    In addition, the UK allows1 the marketing by the following types of AIFM in the UK1:

    1. (a)

      a full-scope UK AIFM of:

      1. (i)

        a UK AIF 1that is a feeder AIF, the master AIF of which is managed by a non-UK AIFM or is a non-UK AIF1 and;

      2. (ii)

        a non-UK AIF1;

    2. (b)

      [deleted]1

    3. (c)

      a non-UK AIFM1 of:

      1. (i)

        a UK AIF; and1

      2. (ii)

        a non-UK AIF.1

      3. (iii)

        [deleted]1