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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.

You are viewing the version of the document as on 2016-10-03.

Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

FUND 10.2 AIFM management passport

Application

FUND 10.2.1G

This section applies to:

  1. (1)

    a full-scope UK AIFM that intends to manage an EEA AIF:

    1. (a)

      by establishing a branch in another EEA State; or

    2. (b)

      under the freedom to provide cross-border services; and

  2. (2)

    a full-scope EEA AIFM that intends to manage a UK AIF:

    1. (a)

      by establishing a branch in the UK (an incoming EEA AIFM branch); or

    2. (b)

      under the freedom to provide cross-border services.

Management passport for full-scope UK AIFMs

FUND 10.2.2G

Information on the use of the management passport by a full-scope UK AIFM is contained in SUP 13 (exercise of passport rights by UK firms), which includes:

  1. (1)

    guidance on the conditions for establishing a branch to manage an AIF in an EEA State other than the UK (SUP 13.3.2 G);

  2. (2)

    guidance on the conditions for providing cross-border services to manage an AIF in an EEA State other than the UK (SUP 13.4.2 G);

  3. (3)

    the notice of intention that a full-scope UK AIFM must submit to establish a branch in an EEA State other than the UK (SUP 13 Annex 1);

  4. (4)

    the notice of intention that a full-scope UK AIFM must submit to provide cross-border services to manage an AIF in an EEA State other than the UK ( SUP 13 Annex 8AR);

  5. (5)

    guidance on changes to branches (SUP 13.6.10 G); and

  6. (6)

    guidance on changes to cross-border services to manage an AIF in an EEA State other than the UK (SUP 13.7.13G).

Management passport for full-scope EEA AIFMs

FUND 10.2.3G

Information on the use of the management passport by a full-scope EEA AIFM is contained in SUP 13A (Qualifying for authorisation under the Act) and SUP 14 (Incoming EEA firms changing details, and cancelling qualification for authorisation), which include:

  1. (1)

    guidance on the conditions for establishing a branch to manage an AIF in the UK (SUP 13A.4.1 G);

  2. (2)

    guidance on the conditions for providing cross border services to manage an AIF in the UK (SUP 13A.5.3 G);

  3. (3)

    guidance on Handbook provisions that apply to an incoming EEA AIFM branch (SUP 13A Annex 1);

  4. (4)

    guidance on the matters that are reserved to a firm's Home State regulator (SUP 13A Annex 2);

  5. (5)

    guidance on changes to branches (SUP 14.2.15G and SUP 14.2.16G); and

  6. (6)

    guidance on changes to cross-border services to manage an AIF (SUP 14.3.8G to SUP 14.3.10G).