Apply for fund recognition

Investment funds established outside the UK must be recognised to be promoted to retail investors in the UK. 

An undertaking for collective investment in transferable securities scheme (UCITS) established in another European Economic Area (EEA) country must be recognised, under section 264 of the Financial Services Markets Act 2000 (FSMA).

Other funds established in countries other than the UK, including an alternative investment fund (AIF) authorised in another EEA country, must be recognised by us, under section 272 of FSMA.

UCITS recognition under section 264 of FSMA

To promote units of a UCITS established in another EEA country or a new sub-fund of a UCITS already recognised in the UK, to retail investors in the UK, you must:

  • firstly pay the application fee to us
  • notify the home state competent authority
  • provide relevant documents and information as shown in Article 93 of Directive 2009/65/EC
  • include in the prospectus and notification letter the address and details of facilities that will be maintained in the UK to allow, for example, a member of the public to inspect the scheme documentation, as in COLL 9.4
  • name(s) of the firm(s) that will carry out the marketing activities for the UCITS in the UK – you also need to ensure the firm(s) has the necessary permission to do so under FSMA (if the operator intends to carry out its own marketing activity it will automatically be given the necessary permission under FSMA)

The relevant competent authority will forward the complete notification to us and inform you that it has done so, and therefore that the UCITS or new sub-fund of a UCITS is recognised and can be promoted to retail investors in the UK.

We must issue confirmation that we received the notification from the relevant home state competent authority within five days of doing so, as in Article 5 of Commission Regulation (EU) No 584/2010.

When a new scheme or sub fund is recognised it will appear on the Financial Services Register within 24 hours of confirmation being sent to the relevant home state competent authority.

Fund recognition under section 272 of FSMA

To have an AIF or another type of fund, other than a UCITS, recognised by us you must:

  • firstly contact us to discuss the process
  • submit an application for recognition of the AIF/Fund: Form 272 (DOC, 285KB, 25 pages)
  • provide relevant documents and information as shown in Form 272
  • include in the prospectus and notification letter the address and details of facilities that will be maintained in the UK to allow, for example, a member of the public to inspect the scheme documentation, as in COLL 9.4
  • pay the application fee to us

It is important you answer all questions on the forms accurately and provide the relevant supporting documents. This will ensure we can review your application as quickly as possible.

Your application 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.

We must process all complete applications within six month.

Note you can no longer apply for a recognised fund under section 270 of FSMA, following implementation of the AIFMD on 22 July 2013.

Applications for recognition of Hong Kong Covered Funds under section 272 of FSMA

To have a Hong Kong Covered Fund (as defined in the SFC/FCA Mutual Recognition of Funds Memorandum of Understanding and the First Addendum to the SFC/FCA Mutual Recognition of Funds Memorandum of Understanding), recognised by us you must:

  • Submit an application for recognition of the fund – Form 272 HK
  • Provide relevant documents and information as shown in Form 272 HK
  • Ensure you have read the FCA Circular and you can meet the General and Eligibility requirements
  • Pay the application fee to us

It is important you answer all questions on the form accurately and provide the relevant supporting documents. This will ensure we can review your application as quickly as possible.

Your application 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.

We will aim to process complete applications within 2 months.

Application fee

The current application fees are detailed in the fees manual. This fee only applies for the initial recognition of an overseas scheme, and is not for the recognition of any subsequent sub-funds.

You must pay this application fee before you notify the home state competent authority

When applying you must attach a cheque to your application or make a BACS or CHAPS payment to ‘FCA Collection’ and include ‘CIS’ followed by the scheme name as a reference.

The FCA Collection account details are:

Account name: FCA Collection
Bank name: Lloyds Bank
Account number: 00828179
Sort code: 30-00-02
IBAN code: GB68 LOYD 3000 0200 8281 79

Note that once a fund is recognised by us it is also subject to periodic fees. The fees manual has further information on these.

Submit an application

Applications to have an AIF or another type of fund, other than a UCITS, recognised by us should be sent via

  • email to [email protected], or
  • post to Fund Authorisations, Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN

When emailing documents, the name of each document must follow our naming conventions.

Emails may contain multiple documents but do not compress documents unless the total size of the email, including documents, exceeds 10MB.

Compressed documents must be in a .zip format (Legacy Zip 2.0) and are also subject to the 10MB limit, so you may need to send multiple emails. If sending multiple emails you should mark it ‘email x of x’ in the subject.

You must confirm in the email that an original permanent signed copy of the application or notification will be retained for an appropriate period for inspection.

Contact us

When we receive a complete application we will send you a confirmation email that will include the contact details of the case officer who will deal with your application.

If you have a query about an open application or notification, you should firstly contact your case officer.

Email other queries to [email protected] and we will respond as soon as possible.