Regulatory Alerts2022-12-09
Supplementary Guidance on Private Credit Funds
The Financial Services Regulatory Authority issued this supplementary guidance under the Financial Services and Markets Regulations 2015 to define regulatory expectations for Fund Managers of Private Credit Funds. The document restricts these funds to Professional Clients and mandates specific investment restrictions and diversification policies to mitigate concentration risk. Fund Managers are required to implement robust systems and controls, including risk appetite statements, defined lending processes, ongoing risk management, and stress testing methodologies.
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