On 3 December 2020, we reported that the FCA had published a new webpage in which it explained the proposed process for adding a new sub-fund to an umbrella scheme that will be in the temporary marketing permissions regime (TMPR).

On 31 December 2020, the FCA updated its webpage by inserting links to the final versions of the following:

  • Direction under regulations 63(3)(c) and 64(1) of the Collective Investment Schemes (Amendment etc) (EU Exit) Regulations 2019.
  • Notification letter for recognition of a new sub-fund. Applicants should only use this form in order to notify the FCA of a new sub fund that becomes authorised by its home state regulator on or after 11.00 pm on 31 December 2020 “IP completion day ”.