FAQs

What is RegTech?

Regtech (or “RegTech”) is a blend word of ‘regulatory technology’. Regulatory technology is a new field within the financial services industry that utilizes innovative information technology to enhance regulatory processes. It puts a particular emphasis on regulatory monitoring, reporting and compliance.

What is GDPR (General Data Protection Regulation)?

The General Data Protection Regulation (EU) 2016/679 (“GDPR“) is a regulation in EU law on data protection and privacy for all individuals within the European Union (EU) and the European Economic Area (EEA). GDPR applies to personal data, which means anything that may identify an individual: corporate email addresses, cookies, IP addresses or postal addresses stored digitally. A company employee is still an individual when at work, and therefore GDPR still applies.

What is Cybersecurity?

Cybersecurity is the practice of protecting systems, networks, and programs from digital attacks. It is the state of being protected against the criminal or unauthorized use of electronic data, or the measures taken to achieve this. Regulatory Compliance is a critical component of any cybersecurity program.

What is a Real Estate Investment Trust (REIT)?

A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, ranging from office and apartment buildings to warehouses, hospitals, shopping centers, hotels etc.

What is an Appointed Representative?

An Appointed Representative is a firm or person who runs regulated activities and acts as an agent for a firm which is directly authorised by the Financial Conduct Auhtority.

What is a Principal Firm?

A Principal Firm is a firm directly authorised by the Financial Conduct Authority and in which an Appointed Representative acts as an agent for.

What is Regulatory Hosting?

Regulatory Hosting is an alternative name for the Appointed Representative set-up. The Appointed Representative is effectively hosted by the Principal Firm.

What are Alternative Investment Funds?

Alternative Investment Funds are all investment funds that are not covered by the European Directive on Undertakings for Collective Investment in Transferable Securities which includes hedge funds, funds of hedge funds, venture capital and private equity funds and real estate funds.

What is the Alternative Investment Fund Management Directive?

The Alternative Investment Fund Management Directive was introduced into UK law in 2013 and covers the management, administration and marketing of alternative investment funds. It establishes an EU-wide framework for monitoring and supervising risks posed by Alternative Investment Fund Managers and the Alternative Investment Funds they manage.

What is an Alternative Investment Fund ManCo?

An Alternative Investment Fund ManCo provides a fund access to an FCA-regulated Alternative Investment Fund Manager.

What is a Segregated Portfolio Company?

A Segregated Portfolio Company is permitted to create segregated portfolios while remaining as a single legal entity. The assets and liabilities of each portfolio are legally separate from each other and from the company’s general assets and liabilities.

What are UCITS funds?

Undertakings for Collective Investment in Transferable Securities (UCITS) funds are investment funds which are regulated at a European Union (EU) level. As part of the EU’s goal to create a single market for financial services in Europe, UCITS funds follow a set of common rules and regulations allowing a fund to seek a single authorisation in one EU member state and to register for sale and market across EU member states.

What is an Irish Collective Asset Vehicle?

An Irish Collective Asset Vehicle is a collective investment vehicle for Undertakings for Collective Investments in Transferable Securities funds and Alternative Investment Funds, providing a corporate structure which is not subject to rules or requirements designed for other forms of company.

What is a Collective Investment Scheme?

A Collective Investment Scheme is a fund with multiple contributors, with the fund manager investing the pooled money in one or more type of asset.

What is an Unregulated Collective Investment Scheme?

An Unregulated Collective Investment Scheme is a Collective Investment Scheme which can be based outside the UK but cannot be promoted to the general public (in the UK). However, it can be proposed to a certain number of categories of investors and can dedicate money to a range of different enterprises, including less common investment products and activities.

What is the Enterprise Investment Scheme?

The Enterprise Investment Scheme helps smaller high-risk trading companies to raise finance by offering a range of tax reliefs to investors who purchase new shares in those companies.

What is the Seed Enterprise Investment Scheme?

The Seed Enterprise Investment Scheme aims to encourage economic growth in the UK by offering tax efficient benefits to investors who invest in start-up businesses in the UK.

What are PRIIPs?

Packaged retail investment and insurance-based products (PRIIPs) make up a broad category of financial assets that are regularly provided to consumers in the European Union (EU) through banks or other financial institutions as an alternative to savings accounts. Those producing or selling packaged retail investment and insurance-based investment products (PRIIPs) have to provide key information documents (KIDs).