Regulation 36 Transparency requirements etc: annual report, disclosure and reporting

(1)

Before Article 103, omit “(Article 22(2)(a) to (e) and Articles 23(4) and 24(1) of Directive 2011/61/EU)”.

(2)

In Article 104(1), for “point (a) of Article 22(2) of Directive 2011/61/EU” substitute “rule 3.3.5(1) of the Investment Funds sourcebook”.

(3)

In Article 105(1)(c), for “Article 23 of Directive 2011/61/EU” substitute “section 3.2 of the Investment Funds sourcebook”.

(4)

In Article 106—

(a)

in paragraphs 1 and 2, for “point (d) of Article 22(2) of Directive 2011/61/EU” substitute “rule 3.3.5(4) of the Investment Funds sourcebook”;

(b)

in paragraph 2, for “Article 23 of Directive 2011/61/EU” substitute “section 3.2 of the Investment Funds sourcebook”.

(5)

In Article 107—

(a)

in paragraph 1, in the opening words, for “point (e) of Article 22(2) of Directive 2011/61/EU” substitute “rule 3.3.5(5) of the Investment Funds sourcebook”;

(b)

in paragraph 4, for “Annex II to Directive 2011/61/EU” substitute “rules 19B.1.4 to 19B.1.24 of the Senior Management Arrangements, Systems and Controls sourcebook”.

(6)

In Article 108—

(a)

in paragraph 1, for “Article 23(4) of Directive 2011/61/EU”, substitute “rule 3.2.5 of the Investment Funds sourcebook”;

(b)

in paragraph 2—

(i)

in the opening words, for “Article 23(4)(a) of Directive 2011/61/EU” substitute “rule 3.2.5(1) of the Investment Funds sourcebook”;

(ii)

in point (b), for “Article 22(1) of Directive 2011/61/EU” substitute “rules 3.3.2 to 3.3.4 of the Investment Funds sourcebook”;

(c)

in paragraph 3—

(i)

in the opening words, for “point (b) of Article 23(4) of Directive 2011/61/EU” substitute “rule 3.2.5(2) of the Investment Funds sourcebook”;

(ii)

in point (a), for “Article 16(1) of Directive 2011/61/EU” substitute “rule 3.6.3 of the Investment Funds sourcebook”;

(d)

in paragraph 4—

(i)

in the opening words, for “point (c) of Article 23(4) of Directive 2011/61/EU” substitute “rule 3.2.5(3) of the Investment Funds sourcebook”;

(ii)

in the second subparagraph, for “Article 22(1) of Directive 2011/61/EU” substitute “rules 3.3.2 to 3.3.4 of the Investment Funds sourcebook”;

(e)

in paragraph 5—

(i)

in the first subparagraph, for “point (c) of Article 23(4) of Directive 2011/61/EU” substitute “rule 3.2.5(3) of the Investment Funds sourcebook”;

(ii)

in the second subparagraph, for “Article 22(1) of Directive 2011/61/EU” substitute “rules 3.3.2 to 3.3.4 of the Investment Funds sourcebook”.

(7)

In Article 109—

(a)

in paragraph 1, for “Article 23(5) of Directive 2011/61/EU” substitute “rule 3.2.6 of the Investment Funds sourcebook”;

(b)

in paragraph 3, for “Article 22(1) of Directive 2011/61/EU” substitute “rules 3.3.2 to 3.3.4 of the Investment Funds sourcebook”.

(8)

In Article 110—

(a)

in the heading, for “competent authorities” substitute “the FCA”;

(b)

in paragraph 1, in the opening words—

(i)

for “the second subparagraph of Article 24(1) and of point (d) of Article 3(3) of Directive 2011/61/EU”, substitute “rule 3.4.2 of the Investment Funds sourcebook, and directions given by the FCA under regulation 21(2) of the AIFM Regulations 2013”;

(ii)

for “competent authorities” substitute “the FCA”;

(c)

in paragraph 2—

(i)

in the opening words—

(aa)

after “market in the” insert “United Kingdom or the”;

(bb)

for “the competent authorities of their home Member State”, substitute “the FCA”;

(cc)

for “Article 24(2) of Directive 2011/61/EU” substitute “rule 3.4.3 of the Investment Funds sourcebook”;

(ii)

in point (a), for “point (a) of Article 23(4) of Directive 2011/61/EU” substitute “rule 3.2.5(1) of the Investment Funds sourcebook”;

(iii)

in point (f) for “point (b) of Article 15(3) and the second subparagraph of Article 16(1) of Directive 2011/61/EU” substitute “rules 3.6.3(2) and 3.7.5(2)(b) of the Investment Funds sourcebook”;

(d)

in paragraph 3—

(i)

in point (a)—

(aa)

for “points (a) and (b) respectively of Article 3(2) of Directive 2011/61/EU” substitute “subparagraphs (a) and (b) respectively of regulation 9(1) of the AIFM Regulations 2013”;

(bb)

for “the EU AIFs” substitute “the UK and EU AIFs”;

(cc)

after “they market”, insert “in the United Kingdom or”;

(ii)

in point (b)—

(aa)

for “the EU AIFs” substitute “the UK and EU AIFs”;

(bb)

for “in the Union” substitute “in the United Kingdom or in the Union”;

(e)

in paragraph 4, for “the competent authority of the home Member State of the AIFM”, substitute “the FCA”;

(f)

in paragraph 5, for “Article 24(4) of Directive 2011/61/EU” substitute “rule 3.4.5 of the Investment Funds sourcebook”;

(g)

omit paragraph 7.

(9)

In Article 111—

(a)

in paragraphs 1 and 2, for “Article 24(4) of Directive 2011/61/EU” substitute “rule 3.4.5 of the Investment Funds sourcebook”;

(b)

in paragraph 2, for “competent authorities of their home Member States” substitute “FCA”.