Authorised operator of unregulated collective investment schemes (“UCIS”)
What we do – Issuer role
- Provide assistance for the initial set-up of the scheme, such as:Ensuring all appropriate parties are engaged
- Project manage and oversee the establishment of the scheme
- Review, comment and approve the required financial promotions including the Information Memorandum, and future marketing literature, including websites;
- Review other scheme documentation to ensure compliance with the FCA’s conduct of business rules, where appropriate; and
What we do – Operator role
- Ensure Anti-Money Laundering and Know Your Customer checks are carried out on all prospective members / partners prior to admitting them into the fund;
- Admit members/partners into the scheme;
- Hold a register of members / partners;
- Oversee the managers of the scheme and all transactions;
- Provide administrative assistance;
- Act as joint signatory on the fund’s bank account; and
- Ensure that the winding up process is carried out correctly.
Small Authorised UK Alternative Investment Fund Manager (“AIFM”) under the Alternative Investment Fund Managers Directive (AIFMD).
The AIFMD is a directive of European Parliament that has introduced an authorisation and supervisory regime for AIFMs managing and marketing Alternative Investment Funds (AIFs) in the EU.
Under the directive an AIF is defined as “an entity that raises capital from a number of investors and then invests that capital for the benefit of the investors in accordance with a defined investment policy”. Unregulated collective investment schemes, unless exempt, are considered to be AIFs.
MCFL became authorised to act as an Authorised UK Small Alternative Investment Fund Manager on 21 July 2014.
Our principle role in this respect is to perform the portfolio and risk management functions which are required to be performed.
We can perform this role alongside that of operator or as a stand alone AIFM.
Authorised fund manager to enterprise investment schemes (“EIS”)
- Sign up to individual discretionary management agreements with the investors
- Make discretionary decisions on the behalf of investors in relation to the selection of, and (subject to limitations) the exercise of rights, such as acquisition and sale, in relation to investments made;
- Ensure that the appropriate procedures are in place to ensure all decisions are made in line with the investment strategy and the investors’ best interests
The key to successful delivery of these services is to bring together an experienced team who can smoothly help you address and advise you through the changing regulatory landscape.
Approve financial promotions
- We advise on matters relating to the procedures involved in issuing and approving your financial promotion and in dealing with prospective investors (and the rules in relation to client categorisation, where relevant).
- Assistance in preparing your financial promotion (by working closely with your legal advisers when necessary) whilst ensuring that it adheres to the rules and guidance as set out in the Conduct of Business Sourcebook (COBS), where appropriate. This will include:Ensuring that it contains the prescribed risk warnings and conveys the required levels of prominence throughout
- Ensuring that it is clear, fair and not mis-leading
- Through the approval process, conduct verification of the content of the financial promotion (by verifying each statement of fact and opinion) ensuring that it fully complies with the requirements of COBS. Paying particular attention to: Ensuring that it contains the prescribed risk warnings which would be required under COBS;
- The contents of any financial models included in the document;
- Statements on possible returns; and
- Potential conflicts of interest.
- We also approve supplemental financial promotion marketing material, such as teasers, presentations and website pages.
Mazars Corporate Finance Limited is registered in England and Wales, and is authorised and regulated by the Financial Conduct Authority.
You can download the Pillar 3 disclosure for Mazars Corporate Finance Limited using the link below.
In the event of a complaint, if we are not able to answer the complaint to your satisfaction, you may be eligible to take the matter up with the Financial Ombudsman Service which can be contacted at:
South Quay Plaza, 183 Marsh Wall, London E14 9SR