The FCA has published a new webpage providing updates on various aspects of fund authorisation and supervision.

The update covers:

  • authorisation timelines. From April 2015, the FCA will introduce new targets for the authorisation of non-UCITS retail schemes (two months) and qualified investor schemes (one month). The targeted timeline for UCITS funds remains unchanged at two months;
  • summaries of the FCA’s findings from its derivative reporting and disclosure review, and valuation and liquidity oversight review; and
  • trustees and depositaries reporting agreement. The FCA has agreed with trustees and depositaries that they will regularly report fund breaches and summaries of visits to authorised fund managers.

View Fund authorisation and supervision update, 20 February 2015