Home FCA Handbook FUND FUND 1 FUND 1.1 Application and purpose
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FUND 1.1 Application and purpose

05/11/2024R

  1. (1)

    The application of this sourcebook is summarised at a high level in the following table. The detailed application is provided in each chapter.

    Type of firmApplicable chapters
    full-scope UK AIFM of an unauthorised AIFChapters 1, 3 and 10
    full-scope UK AIFM of an authorised AIFChapters 1, 3 and 10
      
      
    full-scope UK AIFM of a non-UK AIFChapters 1, 3 and 10
    small authorised UK AIFM of anauthorised AIFChapter 1
    small authorised UK AIFM of an unauthorised AIFChapter 1
      
    depositary of an AIF managed by a full-scope UK AIFMChapters 1 and 3
      
      

  2. (2)

    A residual CIS operator is not subject to the requirements in FUND.

  3. (3)

    FUND 10 will apply to a UK AIFM which intends to market on a cross-border basis.

Compatibility with AIFMD and the AIFMD level 2 regulation

01/01/2021R

Handbook rules which conflict with either a rule which transposed AIFMD or a provision in the AIFMD level 2 regulation are modified to the extent necessary to be compatible with those rules and provisions.

Interaction between FUND and COLL

22/07/2013G

A full-scope UK AIFM of an authorised AIF is subject to the requirements in FUND and COLL. The effect of FUND 1.1.2 R is that if a rule in COLL which applies to a UK AIFM, an ICVC that is an AIF, or a UK depositary of an AIF conflicts with either a rule in FUND transposing AIFMD or the AIFMD level 2 regulation, the COLL rule is modified to the extent necessary to be compatible with the FUND rule or the AIFMD level 2 regulation.