COLL 5.3.1 Persons Responsible for Prospectus—All QFC Schemes

(1) Each of the following persons is responsible for a QFC scheme's prospectus:
(a) the operator;
(b) each member (however described) of the governing body of the operator;

Note Governing body is defined in the glossary.
(c) subject to subrules (2) and (3), each person who has accepted, and is stated in the prospectus to have accepted, responsibility for the prospectus or any part of it;
(d) subject to subrules (2) and (3), each person who is taken under rule 5.3.2 (Responsibility for expert statements in prospectus— all QFC schemes) to have accepted responsibility for part of the prospectus;
(e) subject to subrules (2) and (3), each person not mentioned in paragraphs (a) to (d) who has authorised, and is stated in the prospectus to have authorised, the prospectus or any part of it.
(2) If a person accepts (or is taken under rule 5.3.2 to have accepted) responsibility for, or authorises, only part of a prospectus, the person is responsible only for that part of the prospectus.
(3) However, the person is responsible for that part of the prospectus only if it is included in, or substantially in, the form and context in which the person accepted responsibility for it, consented to its inclusion or authorised it.
(4) This rule does not make a person responsible for a prospectus only because the person gave advice about its contents, in a professional capacity, to a person mentioned in subrule (1) (a) to (e).
Derived from QFCRA RM/2010-05 (as from 1st January 2011)