On April 20, the UK Financial Conduct Authority (FCA) updated its asset management authorization hub (Hub), which launched on October 16, 2017, as detailed in the Corporate & Financial Weekly Digest edition of October 20, 2017. The updated Hub includes a number of new interactive tools, complementing existing ones, to support firms through the regulatory process.
The FCA’s changes include the introduction of interactive diagrams in relation to:
- the different EU legislation and regulatory regimes relevant for firms undertaking individual versus collective portfolio management, available here;
- the different authorization options under the Alternative Investment Fund Managers Directive, available here; and
- the different fund structuring options (standalone, master-feeder and umbrella), available here.
In addition, the FCA has published a new webpage to help businesses identify the key regulatory requirements that determine their prudential category, available here.
Finally, the FCA has updated its webpage entitled “Submitting your application” to list the relevant forms for authorization and relevant statutory time frames for the FCA to decide on an application—in both cases, these depend on the firm type.
The FCA’s updated “Submitting your application” webpage is available here.