Services for Operators
Anybody operating a collective investment scheme in the UK must be FSA authorised. Whilst it is possible to become authorised in order to perform this role, there are a number of specialist firms already able to act as an operator at a competitive cost.
StypersonPOPE assists operators of unregulated collective investment schemes in following the various requirements on them under the Financial Services & Markets Act, the FSA Handbook, and the Treasury’s Promotion Orders. Together these cover the:
- Approval of marketing documents and financial promotions;
- The creation and approval of documents;
- Planing the distribution in accordance with FSMA, the Treasury & the FSA’s rules;
- Assesment of potential investors (procedures, assessment schemes & staff training);
- The preparation of periodic statements to investors;
- Managment of the firm in line with appropriate written systems and controls;
- Regular assessment of the competence of staff ;
- Provision of training as appropriate;
- Data security risk assessments and policies;
- Prevention of financial crime (money laundering and the funding of terrorism); and
- Protection of customers (eg complaints, conflicts of interest, data security).
Ultimately, the operator is responsible for setting the rules under which an unregulated collective investment scheme is promoted and run, they will approve the scheme documents and define to whom, and how, information on the fund can be distributed.
If you operate an unregulated collective investment scheme, StypersonPOPE can assist you in preparing the required procedures and can work with you to ensure that your staff have appropriate levels of compliance understanding and awareness. Please contact our Managing Director, Simon Webber, by e-mail or ‘phone to have an initial discussion.
