Information on non-UK funds process through Section 272

Reference Case Number: FOI10913

Freedom of Information: Right to know request:

1. The average time it has taken non-UK funds to go through the section 272 process to market in the UK, broken down by year since the start of 2021.

2. The average cost of this process to each fund in those periods.

3. The number of funds that have gone through that process each year.

Question 1

The average time it has taken non-UK funds to go through the section 272 process to market in the UK, broken down by year since the start of 2021.

2021 – N/A
2022 – average time for approval was 113 working days
2023 - average time for approval was 84 working days

Question 2

The average cost of this process to each fund in those periods.

The FCA application fee for a s272 application is £10,000 for a standalone scheme and £20,000 for an umbrella scheme.

The fees for funds reflect the estimated costs to the FCA of assessing applications and notifications. The level of fees payable in respect of an application or a notification will vary depending upon the provision of the Act under which it is made. This fee is adjusted when the scheme concerned is an umbrella.

Question 3

The number of funds that have gone through that process each year.

2021 - 0 Schemes
2022 – 4 umbrella schemes
2023 - 3 umbrella schemes

Date of Release: 22/12/2023

Information on non-UK funds process through Section 272 - December 2023

Freedom of Information: Right to know request:

Question 1

Question 2

Question 3

More information

Data