Regulation 58 Marketing of AIFs managed by small third country AIFMsF1
A small third country AIFM must give written notification to the FCA before marketing an AIF managed by it F2, except where the AIF is recognised under section 271A of the Act.
The notification must include a statement confirming that the following conditions are met—
the AIFM is the person responsible for complying with the implementing provisions relating to the marketing of the AIF; and
the AIFM is a small third country AIFM.
The AIFM must provide the FCA with such information as the FCA directs on—
the main instruments in which the AIFM trades, and
the principal exposures and most important concentrations of the AIFs that it manages,
in order to enable the FCA to monitor systemic risk effectively.
The FCA may not give a direction under paragraph (3) that requires an AIFM to provide information—
if an investor's acquisition of units or shares of the AIF results from marketing that is permitted because of the notification, after the date on which the final such investor disposes of such units or shares; or
if there is no acquisition of units or shares of the AIF resulting from such marketing, after the date on which the AIFM ceases marketing the AIF.
Annotations
Textual amendments
- F1
Regulations revoked (14.12.2023 for the revocation of reg. 79) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(vi)
- F2
Words in reg. 58(1) inserted (23.2.2022) by Financial Services Act 2021 (c. 22), s. 49(5), Sch. 9 para. 11; S.I. 2022/163, reg. 2(a)