Trinity Knot Consulting

Undertakings for Collective Investment in Transferable Securities and the Alternative Investment Fund Managers Directive.

There are further developments in the pipeline, but your firm will be aware that all AIFM’s must by now be authorised and comply with the following requirements:

  • Capital
  • Remuneration policy
  • Risk management
  • Conduct of business
  • Conflicts of interest
  • Delegation

And comply with all rules regarding:

  • Liquidity Management
  • Valuation
  • Depositary and Transparency

UCITS V has additional regulatory elements leading on from UCITS IV and is likely to be effected into local EU state law probably by the second quarter of 2016.

If you need advice or assistance in dealing with the complex AIFMD or UCITS V rules please contact Trinity here.

Unregulated Collective Investment Schemes & Non Mainstream Pooled Investments (NMPIs):
FCA warned investors about high risk Unregulated Collective Investment Schemes (UCIS).

UCIS are not normally FCA registered and therefore the Financial Services Compensation Scheme (FSCS) does not normally apply, typically such matters should be covered by the advising firms PII policy.
Our expert ‘Financial Lines’ team has a great deal of experience in dealing with UCIS investments.
Contact Trinity for impartial UCIS advice here.

Compliance generally

A firm can delegate some compliance responsibility, subject to proper and regular reviews confirming compliance actions are conducted.

However firms should always take care to ensure that they have appropriate processes in place to manage any ‘conflicts of interests’.

With regard to marketing and advertising good practice now involves demonstrating a careful understanding of what is ‘promotion’, which includes verbal communication, and keeping evidence of a clear documented sales process.

Contact Trinity urgently if you need to review this key area of your business.