COLL 5.2.3 General Information Requirements for Prospectus—All QFC Schemes
(1) The operator of a QFC scheme must ensure that the scheme's prospectus at all times contains all the information that investors and their professional advisers would reasonably require, and reasonably expect to have drawn to their attention, in the prospectus for the purpose of making an informed judgment about—
(a) the merits and risks of participating in the scheme; and
(b) the extent and characteristics of the risks accepted by participating in the scheme.
(2) The operator must ensure that at all times the prospectus contains a clear and easily understandable explanation of any risks that investment in the scheme may reasonably be regarded as presenting to investors in the scheme.
(3) Without limiting subrules (1) and (2), the operator must ensure that at all times the prospectus includes the information, statements and provisions required for the QFC scheme by—
(a) if the scheme is a qualified investor scheme—Schedule 3 (Prospectus content—QFC qualified investor schemes);
(b) if the scheme is a retail scheme other than a REIT—Schedule 4 (Prospectus content—QFC retail schemes); and
(c) if the scheme is a REIT—Schedule 5 (Prospectus content—REITs).
|Amended by QFCRA RM/2016-1 (as from 19th September 2016)|