Overseas Funds equivalence determination made

The FSMA 2000 (Overseas Funds Regime)(Equivalence)(EEA) Regulations will take effect on 16 July. The Regulations set out the Treasury’s approval of each EEA state in relation to any EEA authorised UCITS that is a money market fund. These funds will be able to be “recognised schemes” for FSMA purposes once the FSMA requirements have been met, including that the scheme operator has applied to the FCA for recognition of the scheme.

Emma Radmore