The Investment Association (IA) has published an updated version of its regulatory guide on authorised funds. The guide is in 4 sections:

• section 1 provides a summary of the types of authorised fund structures available;
• section 2 explains the governance structure of UK funds;
• section 3 provides further information about the operation of UK funds; and
• section 4 describes how funds are taxed in the UK.

Authorised funds are regulated by the FCA and must adhere to the detailed regulatory requirements set out in FCA’s Collective Investment Schemes sourcebook, which covers matters such as operating duties and responsibilities, investment and borrowing powers and investor relations.

View Updated version of IA guidance for members on authorised funds, 6 March 2017