online

Overseas funds regime

The overseas funds regime (OFR) is to be introduced to help streamline the process for offshore investment funds marketing to UK retail investors. It presents overseas funds, including EEA UCITS currently using the Temporary Marketing Permissions Regime (TMPR), a simpler alternative to the current system of individual fund recognition under Section 272 of FSMA.

The OFR is based on the principle of ‘outcomes-based equivalence’ which acknowledges that different approaches to regulation can achieve the same regulatory objectives, and so overseas funds may not have to be subject to exactly the same regulation as funds in the UK.  Rather, there will be a comparison based on HM Treasury’s overall view of the other country’s regulatory regime, enabling the government to designate a variety of jurisdictions as equivalent.

If you’re not a client, to read this content you must sign up for a free guest account

Clients of threesixty are kept up to speed with the latest regulatory, industry and technical developments via our regular news and opinions articles.

As well as being updated via the articles we publish to threesixty online, clients can specify to us what type of articles they want to receive (by category) and how frequently they receive them.

To try this service, simply register your details with us and we'll give you 3 months free and unlimited access to our news and opinions.