How we process authorised fund applications

When we receive a complete application for fund authorisation we will consider:

• proposals and applications to ensure fund structures and objectives are clearly set out
• how the fund will operate and whether the investment strategy and risks are stated clearly, concisely and effectively for investors in making informed decisions
• whether the fund is suitable for the target investor groups

A case officer will review the application or notification to amend a fund based on this and contact you with any comments or to ask for further information or clarification. The case officer will let you know how the application or notification is progressing throughout the review process.

If we have any queries about your application or notification you will have to address them and respond to us within the deadline we will give you. We will continue to work with you during this period.

Following the initial review the application or notification will be submitted for second review, which may result in more comments or queries that you have to respond to before the fund is authorised or amended.

When a fund is authorised it will appear on the Financial Services Register[1].

For authorisation of an AUT we will tell you when the second review is complete and request a confirmed copy of the trust deed. We require this before we authorise the scheme.