The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 were made earlier this week: see here or here (pdf). Regulations 50(6), 58 and 61 to 71 are now in force; the remaining regulations come into force on exit day. The Regulations are accompanied by an explanatory memorandum and an impact assessment: see, respectively, here (pdf) and here (pdf). To quote directly from the explanatory memorandum (paras. 2.2 and 2.3):A collective investment scheme is a fund that several people contribute to. It is managed by a fund manager who will invest the pooled money into one or more types of assets. This instrument will continue the standards as set out by the UCITS Directive (2009/65/EC) to maintain common standards for investor protection for UCITS.
This instrument will also amend the commencement provisions in the Alternative Investment Fund Managers (Amendment) (EU Exit) Regulations 2019".
Note: the Alternative Investment Fund Managers (Amendment) (EU Exit) Regulations 2019 have not yet been made - as far as I can tell - but were published in draft form last year and approved last month: see here.
Update (21 February 2019) - shortly after adding the above note, the UK Legislation website was updated and now includes a copy of the Alternative Investment Fund Managers (Amendment) (EU Exit) Regulations 2019: see here. These Regulations were made on the same day as the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019.
No comments:
Post a Comment