The FCA has updated its web page concerning the national private placement regime (NPPR). The NPPR allows alternative investment fund managers (AIFMs) to market alternative investment funds (AIFs) that otherwise cannot be marketed under the Alternative Investment Managers Directive’s (AIFMD) domestic marketing or passporting regimes.

The FCA has added to the web page the following new forms:

• Article 36 notification form: for authorised UK and EEA AIFMs marketing non-EEA AIF(s) (or feeder AIFs that are UK AIFs or EEA AIFs where the master fund is managed by a non-EEA AIFM or is a non-EEA AIF). Before making this notification the firm must have made the relevant AIFMD new fund under management notification;
• Article 42 notification form: for above-threshold non-EEA AIFMs marketing AIF(s), whether UK, EEA or non-EEA AIF(s). These AIFMs must also complete notifications in respect of major holdings and control acquired after the date of their marketing notification; and
• Small third country notification form: for sub-threshold non-EEA AIFMs marketing AIF(s), whether UK, EEA or non-EEA AIF(s).

The FCA has also published notes to help firms complete each of the above NPPR notification forms.

View FCA webpage – National private placement regime, 27 March 2017