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ARTICLE · 21 JULY 2008

Amendment To The Collective Investment Scheme Regime

CMS Cameron McKenna Nabarro Olswang
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On 15 July 2008 an order amending the collective investment schemes ("CIS") regime came into force.

United KingdomStrategy
Barney Hearnden
Barney Hearnden
Ash Saluja
Ash Saluja

On 15 July 2008 an order amending the collective investment schemes ("CIS") regime came into force.

The CIS regime prohibits persons from establishing, operating or winding up a CIS unless they are authorised by the FSA. The Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001 (the "Exemption Order") sets out certain arrangements that are exempt and can therefore be established, operated and wound up without the involvement of an FSA authorised entity.

One of these exemptions (paragraph 9 of the schedule to the Exemption Order) has been revised, in order to clarify some ambiguities in the old wording. These ambiguities were in relation to whether:

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