Treasury and FCA unveil roadmap to the Overseas Funds Regime

Equivalence for EEA funds

The Treasury and Financial Conduct Authority have revealed a ‘roadmap’ for the implementation of the Overseas Funds Regime (OFR).

The regulation will allow funds based in the European Economic Area (EEA) to apply to become recognised in the UK and be marketed to British investors. Both Treasury and FCA said given the majority of funds available to UK retail investors are based in EEA, the OFR will ensure consumers can "benefit from the choice these funds provide", with the assurance they come from a country with "equivalent consumer protections", they said. Europe-domiciled funds exempt from Consumer Duty requirements under Overseas Funds Regime The regime will replace the current post-Brexit transitional agr...