The Commission regards the "Promoter" of a fund as the party ultimately responsible for its success. A Promoter may, for example, be a fund management company, a new investment boutique or a group of experienced professionals. The Commission welcomes approaches from promoters of the first rank who have a favourable track record in the establishment and/or management of investment funds.
Informal Approaches are welcome
Promoters, or their professional advisors, are invited to make an informal approach to the Commission in advance of making a formal application. Those wishing to do so should complete the New Promoter's Introductory Checklist (PDF 5 document available here). The information provided will be used to enable the Commission to carry out its necessary due diligence checks and should reduce the time necessary to process a formal application. As soon as its enquiries are complete, the Commission will notify the applicant as to whether it would be willing to consider a formal application. The promoter and its professional advisors may also find it constructive to meet with staff in the Commission's Investment Business Division ("IBD") prior to making a formal application.