UK:
CBI Brexit Update On Investments By UCITS And Retail Investor AIFS In UK Funds
19 March 2019
Maples Group
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In the event of a hard Brexit, the Central Bank will
consider:
- Whether UK UCITS, which at that point
will become UK AIFs, should be identified in Central Bank guidance
as a category of investment fund in which UCITS and Retail Investor
AIFs may invest. For the period while this is under consideration,
the Central Bank does not propose adopting a default position which
would treat the UK AIFs as ineligible. For UCITS, any investment in
UK AIFs must fall within with the aggregate limit of 30% for
investments in all AIFs; and
- Whether UK investment firms,
currently authorised under MiFID, should be a category of eligible
financial derivative counterparty for UCITS and Retail Investors
AIFs. For the period while this is under consideration, the Central
Bank does not propose adopting a default position which would treat
UK investment firms as ineligible.
The notice of intention can be found here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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