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 3.12 Marketing a UK AIF in the UK

Application

FUND 3.12.1G

This section applies to:

  1. (1)

    a full-scope UK AIFM of a UK AIF.4

  2. (2)

    [deleted]4

Marketing application

FUND 3.12.2D

Under regulation 54 (FCA approval for marketing) of the AIFMD UK regulation, a full-scope UK AIFM 4may apply to market a UK AIF 4it manages in the UK by submitting a notice to the FCA in the form set out in FUND 3 Annex 1 D.1

FUND 3.12.3G

If the UK AIF 4is a feeder AIF, the master AIF needs to be an AIF that is not managed by a non-UK AIFM4 or is not a non-UK AIF4 for it to be marketed in accordance with regulation 54 of the AIFMD UK Regulation. If the master AIF is managed by a non-UK AIFM4 or is a non-UK AIF4, the AIF may be marketed in the UK in accordance with regulation 4of the AIFMD UK regulation (see FUND 10.5.9G (Marketing of AIFs managed by other third-country AIFMs4).

FUND 3.12.4G
  1. (1)

    A full-scope UK AIFM may use the form set out in FUND 3 Annex 1 D to apply to market a UK AIF 4(that is not a feeder AIF, the master AIF of which is managed by a non-UK AIFM or is a non-UK AIF4) to professional clients and/or retail clients.

  2. (2)

    A full-scope UK AIFM may inform the FCA of its intention to market such an AIF in the UK in its application to become authorised as a Full-scope UK AIFM, in which case the firm does not also have to submit the form in FUND 3 Annex 1 D in respect of that marketing.

  3. (3)

    [deleted]4

    2
FUND 3.12.5G

[deleted]4

FUND 3.12.6G

A full-scope UK AIFM that intends to market to retail clients should consider the application of the financial promotions regime and ensure it is compliant with the relevant requirements (see PERG 8.37.14 G (Application of the financial promotion and scheme promotion restrictions)).

Marketing an LTIF 3

FUND 3.12.7G

To market an LTIF5 in the United Kingdom a full-scope UK AIFM should submit a notice to the FCA using the forms in:3

  1. (1)

    FUND 3 Annex 1D (Notification of intention to market an AIF in the United Kingdom); and3

  2. (2)

    3FUND 4 Annex 1R (Additional documentation and information to market an LTIF5).

    3