An authorised investment fund (AIF) is a variety of collective investment scheme (CIS). It is important to understand what a CIS is before considering authorised...
Authorisation of an authorised unit trust (AUT) What is an AUT? A unit trust is a type of collective investment scheme (CIS) in which the assets are held by a trustee for...
Authorised unit trust-operational requirements under COLL COLL provides very detailed rules on almost all aspects of the operation for authorised unit trusts (AUTs)....
This Practice Note explains the exemptions from the financial promotion restriction which are contained in chapter 4.12 of the Financial Conduct Authority...
BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance on...
BREXIT: The UK is due to leave the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this one minute guide. For further...
A limited liability partnership (LLP) is a body corporate which is formed under the Limited Liability Partnerships Act 2000 (LLPA 2000). The majority of law applicable to...
This Practice Note discusses the formation of a limited partnership under the Limited Partnerships Act 1907 (LPA 1907). It also covers, among other things, the...
This Practice Note discusses the provisions of a limited partnership agreement for limited partnerships formed under the Limited Partnerships Act 1907 (LPA 1907). It...
What is a Non-UCITS retail scheme? Alongside UK-authorised undertakings for collective investment in transferable securities (UCITS), non-UCITS retails...
This Practice Note introduce the key concepts for open ended investment companies (OEIC), also known as investment companies with variable capital. The note also outlines...
A 'non-reporting offshore fund' is any fund falling within the definition of an offshore fund within section 355(1) of the Taxation (International and Other Provisions)...
This Practice Note explores the financial promotion requirements for regulated collective investment schemes only. To explore the financial promotion...
This Practice Note explores the UK restrictions placed on the promotion of an unregulated collective investment scheme (UCIS). For information on the restrictions on the...
The Financial Services and Markets Act 2000 (FSMA 2000) provides for three separate types of non-UK schemes that are capable of being promoted by authorised persons to...
BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance on...
What is an unauthorised unit trust (UUT)? Unit trusts, as a vehicle-type, are chiefly used as investment vehicles. An ‘unauthorised’ unit trust (UUT) is a unit trust that...
BREXIT: The UK is due to leave the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance...
The Financial Services Compensation Scheme (FSCS) came into force on 1 December 2001 (although still covers claims from before that date) and is established under Part XV...
A limited liability partnership (LLP) is not a partnership but a body corporate that is formed under the Limited Liability Partnerships Act 2000 (LLPA 2000), which came...
Sources of limited partnership law The main body of law governing a limited partnership formed under English law (as opposed to a general partnership, a limited liability...
This Practice Note summarises the main practical uses of unauthorised unit trusts (UUTs) and some of the common issues that arise in those contexts. Unit trusts are...
What are unregulated collective investment schemes? In the UK, an unregulated collective investment scheme (UCIS) is any collective investment scheme (CIS) that is not...