Third-party fund management requires scheme-specific principal officers and separates retail compliance oversight from non-retail schemes. An FME under a third-party fund management arrangement must appoint a dedicated Principal Officer for each scheme, responsible for fund management, risk ... Summary
Third-party fund management requires scheme-specific principal officers and separates retail compliance oversight from non-retail schemes.
An FME under a third-party fund management arrangement must appoint a dedicated Principal Officer for each scheme, responsible for fund management, risk management and compliance. Non-Retail FMEs may use an existing Compliance Officer for third-party managed schemes, while Retail FMEs must keep Retail Scheme compliance oversight separate from Non-Retail Scheme oversight. Third-party managed scheme assets under management count towards additional KMP requirements, excluding fund of funds schemes.
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