Schedule 9: Collective investment schemes authorised in approved countries Part 1: Provisions to be inserted in Chapter 5 of Part 17 of the Financial Services and Markets Act 2000 271D Report by the FCA in relation to approval
This section sets out the power for HM Treasury to ask the FCA to prepare a report on a country or territory’s regulatory regime. If HM Treasury asks for a report, this will help HM Treasury to decide whether to approve a country or territory under section 271A.
	HM Treasury can ask that the FCA’s report, which must be made in writing, includes information on the law and practice of an overseas country or territory under which a scheme is authorised and supervised and whether there are any existing or proposed cooperation agreements between the FCA and the overseas regulator.
	This is a discretionary power for HM Treasury, meaning that it can decide whether or not to ask the FCA for a report. If HM Treasury does ask for a report, the FCA is required to provide it.