Skip to main content
Version status: In force | Document consolidation status: Assimilated law updated to reflect all known changes
Version date: 23 February 2022 - onwards
Version 3 of 3

Article 4 Authorisation of MMFs

1. No collective investment undertaking shall be established, marketed or managed in the United Kingdom as an MMF unless -

(a) it has been authorised by the FCA in accordance with this Regulation;

(aa) it is authorised and supervised in a country or territory approved by regulations under Article 4A and satisfies the condition in paragraph 1ZA;

(b) it is an EU MMF with temporary marketing permission; or

(c) it is an EU MMF which satisfies the condition in paragraph 1A and -

(i) which is a recognised scheme under section 272 of FSMA; or

(ii) in relation to which the FCA has received written notification under regulation 57 (subject to paragraph 1C), 58 or 59 of the AIFM Regulations.