To amend a recognised fund you must send us a notification for approval of the proposed change. You can only make the change after we have approved it and you notify us that the change has been made.
To amend a fund recognised under section 264 or 272 of the Financial Services Markets Act 2000 (FSMA), you have to send the relevant form or a written notice, and supporting documents to us. What you need to provide depends on the change you want make and the section of FSMA that the fund, scheme or sub-fund is recognised under.
Your notification may be considered incomplete if you do not answer all relevant questions or provide required information without telling us why, or you do not sign the declaration.
There is currently no fee for amending or ‘de-recognising’ a recognised fund.
Recognised UCITS under section 264 of FSMA
To amend an undertaking for collective investment in transferable securities scheme (UCITS) recognised under section 264 of FSMA, you should submit the following form:
- notification to amend a recognised UCITS: Form 264CH (DOC, 144KB, 7 pages)
You should not submit this form if you are only updating scheme documentation.
The changes you may want to make to a recognised UCITS include:
- change of scheme name
- change of scheme type
- change of operator, custodian or facilities in the UK
- change of name or address details for any of the above entities
- change to the supervisory authority
- change to the details of the arrangements for marketing of the UCITS in the UK
- change to sub-fund names
- termination of sub-funds
Recognised fund under section 272 of FSMA
To amend another type of fund, such as an alternative investment fund (AIF), recognised under section 272 of FSMA, you need to submit written notice as detailed in section 277 of FSMA.
If you intend to stop promoting a recognised fund, scheme or sub-fund to retail investors in the UK, the operator or a representative of the operator must submit a written request to us to ‘de-recognise’ it.
Submitting a notification
The notification form or written notice, and supporting documents and information, must be emailed to [email protected].
We are required to process completed notifications to change a recognised fund within one month.
Approval of the change
A case officer will review the notification and contact you with any comments or to ask for further information or clarification. If we have any queries about your application or notification you will have to address them and respond to us within the deadline we will give you.
Following the initial review the notification will be submitted for second review, which may result in more comments or queries that you have to respond to before the change is made.
When we make a decision on your notification we will send you an email confirmation.
Note that our approval is only for a proposed change until you notify us that the change has been made, which requires you to send us the latest version of the scheme documentation.
Once you notify us the change has been made we will update the Financial Services Register.
If you have requested to de-recognise a fund, we will send you an email with an attached letter of confirmation when the Register has been updated.
If you have a query about an open notification to amend a recognised fund, you should firstly contact your case officer – the details will be included in an email we will send confirming that we have received your notification.
Email other queries to [email protected] and we will respond as soon as possible.