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ARTICLE · 31 JULY 2024

FCA Publishes Policy Statement On UK Overseas Funds Regime

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On 17 July 2024, the FCA published the final rules for the UK's Overseas Funds Regime (OFR), enabling certain foreign collective investment schemes to market to UK retail investors. Key changes include removed notification periods and clarified fund change reporting.

United KingdomFinance and Banking
Neil Robson
Neil Robson
Christopher Collins
Christopher Collins
Ciara McBrien
Ciara McBrien
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On 17 July 2024, the Financial Conduct Authority (FCA) published a policy statement (PS24/7) setting out the final rules and guidance necessary to implement the UK's Overseas Funds Regime (OFR). This follows the FCA's December 2023 consultation on the implementation of the OFR (CP23/26). The OFR and CP23/26 are explored in further detail in our previous article (available here).

The OFR will be a new gateway through which certain collective investment schemes, domiciled in jurisdictions deemed to be equivalent to UK-domiciled funds by the UK Government, will be able to be marketed to UK retail investors. It is anticipated that in due course most European Economic Area (EEA) undertakings for collective investment in transferable securities (UCITS) and exchange-traded funds will be eligible for recognition under the OFR.

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