COLL 7.1.10 Application of Ch 7 to Umbrella Schemes—QFC Retail Schemes

(1) This chapter applies to each subscheme of a QFC retail scheme that is an umbrella scheme as it were a separate QFC retail scheme.

Note Subscheme and umbrella scheme are defined in r 1.2.11.
(2) However, the following rules apply to the umbrella scheme itself and not separately to each subscheme:
•   rule 7.2.3 (Significant influence through transferable securities-UCITS type schemes)
•   rule 7.3.10 (Concentration-QFC retail schemes).
(3) Also, a subscheme of an umbrella scheme must not invest in another subscheme of the same umbrella scheme.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)