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Bulletin
FAIFs at last
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Date:
09 Mar 2010
Following a protracted consultation period which started in 2007 but lost impetus as a result of the Madoff scandal and the
FSA’s attention on the financial crisis, the FSA has published its long awaited rules allowing for the establishment of funds
of alternative investment funds (FAIFs). The FSA has chosen to incorporate the FAIF rules in a new section of Chapter 5 of
the Collective Investment Schemes Sourcebook (COLL 5.7), as it concluded that to incorporate them into the current COLL 5.6
(the investment and borrowing powers as they apply to conventional NURSes) was too confusing.
The FAIF rules came into effect on 6 March 2010.
The FAIF rules came into effect on 6 March 2010.
D&W Contact:
Philip Mackay
email
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