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ARTICLE · 12 DECEMBER 2023

FCA Publishes Consultation Paper On Overseas Fund Regime

Dillon Eustace
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The FCA updated its website on 4 December 2023 to open a consultation on proposed changes to its rules to allow overseas funds to be recognised under the Overseas Fund Regime (OFR).

GlobalFinance and Banking
Brian Kelliher
Brian Kelliher
Tara O'Callaghan
Tara O'Callaghan
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The FCA updated its website on 4 December 2023 to open a consultation on proposed changes to its rules to allow overseas funds to be recognised under the Overseas Fund Regime (OFR). The OFR is based on a determination by the UK Government on jurisdictional equivalence. The UK Government is currently reviewing the equivalence of EEA UCITS. The FCA consultation discusses how the FCA would recognise funds for offer in the UK following an equivalence determination by the UK Government under the OFR.

The consultation allows stakeholders the opportunity to comment on the FCA proposals and provides advance notice for firms to plan for any changes.

Pending an equivalence decision from the UK Government, operators of Schemes in the TMPR will be given landing slots in which to apply under the OFR. Further information about landing slots will be published on the FCA website.

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