(1) This regulation applies to -
(a) a full-scope UK AIFM seeking to market an AIF managed by the AIFM that does not fall within regulation 57(1);
(b) a full-scope Gibraltar AIFM, seeking to market to retail investors an AIF managed by the AIFM -
(i) that does not fall within regulation 57(1); and
(ii) where the FCA has not received a regulator's notice referred to in paragraph 14(1)(b) of Schedule 3 to the Act as that paragraph applies in relation to Gibraltar.
(a) apply to the FCA for approval in such manner as the FCA may direct; and
(b) provide such information as the FCA may reasonably require for the purpose of determining the application.
(3) The FCA must determine an application by a full-scope UK AIFM, in so far as that application is for approval to market to professional investors, within 20 working days of receipt of a completed application.
(4) The FCA must determine an application by a full-scope Gibraltar AIFM, or an application by a full scope UK AIF
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