1.1 This Guidance is issued under section 15(2) of the Financial Services and Markets Regulations 2015 (“FSMR”). It should be read in conjunction with FSMR, the relevant Rulebooks of the Financial Services Regulatory Authority (the “Regulator”) and the Guidance & Policies Manual (“GPM”) of the Regulator. Unless otherwise defined or the context otherwise requires, the terms contained in this Guidance have the same meanings as defined in FSMR or the Glossary Rulebook (“GLO”).
1.2 This Guidance is not an exhaustive source of the Regulator’s policies. The Regulator is not bound by the statements contained in this Guidance and may impose further, specific conditions to address any additional risks posed by the activities of an Authorised Person.
1.3 The Guidance is relevant to Authorised Persons and Applicants seeking to act as the Fund Manager of a Private Credit Fund, as it describes the Regulator’s interpretation of the requirements which a Fund Manager of a Private...