CP12/32: Implementation of the Alternative ... - BVCA admin

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collective portfolio management firm (a) an AIFM investment firm; or (b) a UCITS investment firm. a firm which: Page 35 of 91 Appendix 1 (a) (i) is a full scope UK AIFM (other than an internally managed AIF); and (ii) does not have a Part IV permission to carry on any regulated activities other than those which are in connection with, or for the purpose of, the AIF it manages; or (b) is a UCITS firm that has a Part IV permission for managing a UCITS. EEA AIF an AIF, other than a UK AIF, which: (a) is authorised or registered in an EEA State under the applicable national law; or (b) an AIF which is not authorised or registered in an EEA State but has its registered office or head office in an EEA state. EEA AIFM an AIFM which has its registered office in an EEA State other than the United Kingdom. established (in accordance with article 4(1)(j) AIFMD): feeder AIF an AIF which: (a) for AIFMs, ‘having its registered office in’; (b) for AIFs, ‘being authorised or registered in’, or, if the AIF is not authorised or registered, ‘having its registered office in’; (c) for depositaries, ‘having its registered office or branch in’. (a) invests at least 85 % of its assets in units or shares of another AIF or otherwise has an exposure of at least 85% of its assets to such an AIF; or (b) invests at least 85 % of its assets in two or more AIFs where those AIFs have identical investment strategies or otherwise has an exposure of at least 85% of its assets to such AIFs.
full scope UK AIFM a UK AIFM which: Page 36 of 91 Appendix 1 (a) does not meet the conditions in regulation [x] of the AIFMD UK Regulation; or (b) meets the conditions in regulation [x] of the AIFMD UK Regulation but has opted in to AIFMD in accordance with article 3(4) of AIFMD. fund an AIF or a collective investment scheme. funds under management requirement (1) (in IPRU(INV) 7) an amount of own funds that a collective portfolio management firm and an internally managed AIF must hold as set out in IPRU(INV) 7.3.2R (Funds under management requirement). (2) (in GENPRU) an amount of own funds that a collective portfolio management investment firm must hold as set out in GENPRU 2.1.66R (Requirements for collective portfolio management investment firms). incoming EEA AIFM branch an incoming EEA firm which is an AIFM and exercising its right to establish a branch under AIFMD. internally managed AIF a full scope UK AIFM where the legal form of the UK AIF permits internal management and where the AIF’s governing body chooses not to appoint an external AIFM. leverage (in accordance with article 4(1)(v) of AIFMD) any method by which an AIFM increases the exposure of an AIF it manages whether through borrowing of cash or securities, or leverage embedded in derivative positions or by any other means. managing an AIF the regulated activity, specified in article [x] of the Regulated Activities Order of managing an AIF. managing a UCITS the regulated activity, specified in article [x] of the Regulated Activities Order of managing a UCITS. marketing a direct or indirect offering or placement at the initiative of the AIFM or on behalf of the AIFM of units or shares of an AIF it manages to or with investors domiciled or with a registered office in the EEA. master AIF an AIF in which a feeder AIF invests or to which a feeder AIF has an exposure, and which in either case is not itself a feeder AIF. non-EEA AIF an AIF which is not a UK AIF or an EEA AIF. non-EEA AIFM an AIFM which is not a UK AIFM or an EEA AIFM.
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Consultation Paper CP12/32 Financia
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The Financial Services Authority in
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CP12/32 Implementation of the Alter
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Annex 2 List of consultation questi
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Page 118 and 119: CP12/32 Implementation of the Alter
Page 124 and 125: ALTERNATIVE INVESTMENT FUND MANAGER
Page 126 and 127: Annex A Making the Investment Funds
Page 128 and 129: Page 5 of 91 Appendix 1 (2) a descr
Page 130 and 131: 3.2.5 R An AIFM must, for each AIF
Page 132 and 133: Page 9 of 91 Appendix 1 (6) the agg
Page 134 and 135: Page 11 of 91 Appendix 1 (4) the id
Page 136 and 137: [Note: article 15(1) of AIFMD] this
Page 138 and 139: (1) a full scope UK AIFM of: (a) a
Page 140 and 141: Page 17 of 91 Appendix 1 (b) the re
Page 142 and 143: experienced; Page 19 of 91 Appendix
Page 144 and 145: Page 21 of 91 Appendix 1 by the fac
Page 146 and 147: Page 23 of 91 Appendix 1 3.11.5 G T
Page 148 and 149: (Own funds requirement). [Note: art
Page 150 and 151: supplements the meaning of financia
Page 152 and 153: instruments remain in its custody;
Page 154 and 155: supplementing this section] 4. Comm
Page 156 and 157: Annex B Amendments to the Glossary
Page 160 and 161: Page 37 of 91 Appendix 1 non-listed
Page 162 and 163: BIPRU 730k firm Page 39 of 91 Appen
Page 164 and 165: … Page 41 of 91 Appendix 1 (e) (i
Page 166 and 167: esources only at excessive cost. Pa
Page 168 and 169: Single Market Directive … Page 45
Page 170 and 171: Page 47 of 91 Appendix 1 [Note: art
Page 172 and 173: Page 49 of 91 Appendix 1 7.1.7B In
Page 174 and 175: Page 51 of 91 Appendix 1 [Note: art
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Page 178 and 179: [Note: paragraph 1(k) of Annex II o
Page 180 and 181: [Note: paragraph 1(r) of Annex II o
Page 182 and 183: Page 59 of 91 (2) the fixed overhea
Page 184 and 185: Page 61 of 91 Appendix 1 amount of
Page 186 and 187: Types of investment firm: BIPRU 50K
Page 188 and 189: The following text is new and is no
Page 190 and 191: Page 67 of 91 Appendix 1 (1) at the
Page 192 and 193: Page 69 of 91 Appendix 1 so that th
Page 194 and 195: TABLE 7.4 PART I A firm must calcul
Page 196 and 197: Note consistently in respect of any
Page 198 and 199: initial capital (see item 5) if the
Page 200 and 201: Form of qualifying subordinated loa
Page 202 and 203: Annex H Amendments to the Supervisi
Page 204 and 205: Descriptio n of data item Annual re
Page 206 and 207: … Data item SUP 16.12.12R, unless
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indicated otherwise. Data item Firm
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client assets … Page 87 of 91 App
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… Data item SUP 16.12.23R, unless
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FSA066 and FSA06 are added - see fo
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Liquid assets test 32 Liquid assets
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Professional negligence capital req
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is not listed, select ‘Other’.
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FSA067 Capital adequacy - supplemen
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PII capital requirement 5A This is
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External validations Validation Dat
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