Article
Submitted: 10 December 2018
On 07 December 2018, in a revised version of its Collective Investment Schemes (Amendment etc) (EU Exit) Regulations 2019 (the draft SI), HM Treasury provided the welcome confirmation that a sub-fund of an umbrella EEA UCITS would be able to take advantage of the UK’s temporary permissions regime (TPR) even if the sub-fund is notified to the FCA after Exit Day, so long as the umbrella fund is already in the TPR.