Start-up fund managers in the UK
Any person who carries on a regulated activity in the UK by way of business must be authorised by the Financial Conduct Authority or be exempt. A breach may be a criminal offence and punishable on indictment by a maximum term of two years’ imprisonment and/or a fine.
The regulated activities that are mainly relevant to UK managers of alternative investment funds (AIF) are managing an AIF, managing investments and establishing, operating or winding up a collective investment scheme…
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