The Long-term Investment Funds (Amendment) (EU Exit) Regulations 2019
PART 1General
1Citation and commencement
PART 2Amendment of the Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018
2Amendment of the Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018
PART 3Amendment of Regulation (EU) 2015/760
3Amendment of Regulation (EU) 2015/760
4Subject matter and objective
5Definitions
6Authorisation and central public register
7Designation and prohibition on transformation
8Application for authorisation as an LTIF
9Conditions for granting authorisation as an LTIF
10Applicable rules and liability
11Obligations concerning the investment policies of LTIFs
12Investment compartments
13Eligible investments
14Eligible investment assets
15Qualifying portfolio undertaking
16Conflict of interest
17Portfolio composition and diversification
18Rectification of investment positions
19Concentration
20Borrowing of cash
21Application of portfolio composition and diversification rules
22Redemption, trading and issue of units or shares of an LTIF and distribution of proceeds and capital
23Redemption policy and life of LTIFs
24Secondary market
25Issuance of new units or shares
26Disposal of LTIF assets
27Distribution of proceeds and capital
28Transparency
29Additional requirements of the prospectus
30Cost disclosure
31Facilities available to investors
32Internal assessment process for LTIFs marketed to retail investors
33Specific requirements concerning the distribution of LTIFs to retail investors
34Specific provisions concerning the depository of an LTIF marketed to retail investors
35Additional requirements for marketing LTIFs to retail investors
36Marketing of units or shares of LTIFs
37Supervision by the FCA
38Powers of the FCA
39Omission of Articles 34 to 37
40Omission of words after Article 38

Draft Regulations laid before Parliament under paragraph 1(1) of Schedule 7 to the European Union (Withdrawal) Act 2018, for approval by resolution of each House of Parliament.

2019 No.

Exiting The European Union
Financial Services

The Long-term Investment Funds (Amendment) (EU Exit) Regulations 2019

Made

Coming into force in accordance with regulation 1(2) and (3)

The Treasury make these Regulations in exercise of the powers conferred by section 8(1) of, and paragraph 21(b) of Schedule 7 to, the European Union (Withdrawal) Act 20181.

In accordance with paragraph 1(1) of Schedule 7 to that Act, a draft of this instrument has been laid before, and approved by a resolution of, each House of Parliament.