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Spring Budget 2020: HM Treasury consults on a new ‘overseas funds regime’ for retail funds and MMFs

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Published on: 11 March 2020

Published by LNB News

LNB News 11/03/2020

Document Information

Issue Date: 11 March 2020

Published Date: 11 March 2020

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

HM Treasury has launched a consultation on government proposals to simplify the process for allowing investment funds set up overseas to be marketed to UK investors. A new process would be introduced to replace the existing regime, which the government says is not viable over the long-term. The proposed ‘overseas funds regime’ (OFR) would introduce two new regimes based on the principle of equivalence: one for retail investment funds and one for money market funds (MMFs). The consultation closes on 11 May 2020.

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