For a number of years the Commission has been in a position to fast track the authorisation of Qualifying Investor Funds (“QIFs”) and the registration of Registered Collective Investment Schemes by placing reliance on the warranties provided by designated managers. The Commission considers that a similar approach can be taken in respect of the approval of investment compartments (i.e. sub-funds, cells and share classes) of QIFs and Registered Collective Investment Schemes. To enable the fast tracking of these approvals, the Commission has released today two new application forms being; 1) Form QIFSF and 2)Form REGSF.
The Commission can confirm that within three business days of the receipt of a fully completed Form QIFSF or Form REGSF, together with the documentation required by those forms, the Commission will issue the relevant approval.