COLL 4.2.2 Independent Entity Must Comply with Legal and Regulatory Requirements—All QFC Schemes

(1) The independent entity of a QFC scheme must comply with every legal and regulatory requirement applying to the independent entity—
(a) in relation to the scheme; or
(b) as the independent entity of a QFC scheme; or
(c) if the independent entity is an authorised firm—as an authorised firm.
(2) Without limiting subrule (1), the independent entity must act in accordance with the following:
(a) these rules;
(b) any regulations under which the QFC scheme is established, including any law applied by, or that supplements, those regulations;
(c) the other provisions of the law applying in the QFC in relation to—
(i) the scheme; or
(ii) the independent entity as the independent entity of a QFC scheme; or
(iii) if the independent entity is an authorised firm—the independent entity as an authorised firm;
(d) if the independent entity is an authorised firm—the scope of the independent entity's authorisation, including any conditions, restrictions or requirements;

Note Authorisation is defined in the glossary.
(e) the scope of the scheme's registration, including any conditions, restrictions or requirements;
(f) the constitutional document;
(g) the latest filed prospectus.

Note Latest filed prospectus is defined in the glossary.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)