Regulatory Alerts2023-05-01
Supplementary Guidance on Private Credit Funds
The Financial Services Regulatory Authority issued this guidance to define eligibility and ongoing regulatory requirements for Fund Managers of Private Credit Funds. It mandates specific investment restrictions, including prohibitions on lending to natural persons, and requires a clear diversification policy to mitigate concentration risk. Fund Managers must also implement robust systems and controls covering risk appetite, lending processes, risk management, and stress testing to ensure compliance with the Financial Services and Markets Regulations 2015.
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