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ARTICLE · 07 OCTOBER 2024

UK Overseas Funds Regime

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The UK's Overseas Fund Regime ("OFR") went live in stages from 30 September 2024 allowing firms to apply for permanent recognition to sell UCITS (except money market funds) into the UK.

United KingdomFinance and Banking
Nicholas Blake-Knox
Nicholas Blake-Knox
Damien Barnaville
Damien Barnaville
Aongus McCarthy
Aongus McCarthy
Emmet Quish
Emmet Quish
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Key takeaways

  • The UK's Overseas Fund Regime ("OFR") went live in stages from 30 September 2024 allowing firms to apply for permanent recognition to sell UCITS (except money market funds) into the UK.
  • The Financial Conduct Authority ("FCA") has recently published a series of updates to assist firms in submitting their OFR recognition applications, while the UK government's planned consultation on whether to extend its sustainability regime to overseas funds is delayed.
  • The Central Bank of Ireland has issued a clarification on the options available to UCITS making changes to fund offering documents to comply with the FCA OFR guidance.

On 1 May 2024, HM Treasury and the Financial Conduct Authority ("FCA") jointly issued a roadmap for the implementation of the UK's Overseas Funds Regime ("OFR").

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