The Financial Services and Markets Act 2000 (Overseas Funds Regime) (Equivalence) (European Economic Area) Regulations 2024
These Regulations are made in exercise of the powers conferred by section 271A of the Financial Services and Markets Act 2000 (c. 8). This provides that the Treasury may approve a country or territory in relation to a specified description of collective investment scheme which is authorised in a country or territory outside the United Kingdom. These schemes are then considered to be recognised schemes once certain conditions are met, including that the operator of the scheme has applied to the Financial Conduct Authority (the “FCA”) for recognition of the scheme and the FCA has made an order granting the application.
Lifecycle
Department
Made
13 May 2024
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In force
16 Jul 2024
Enabling power
the Act The Treasury make these Regulations in exercise of the powers conferred by section 271A(1) of the Financial Services and Markets Act 2000(“”). In accordance with sections 271B and 271C of the Act, the Treasury are satisfied that the equivalent protection test (within the meaning of section 271B of the Act) is met in relation to each EEA state and that adequate arrangements exist, or will exist, for co-operation between the Financial Conduct Authority and the overseas regulator (within the meaning of section 271C of the Act) in each EEA state.
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