Access to Financial Services Markets Overseas Funds Regime Amendments to section 272
Section 272 of FSMA is not repealed but will continue to be available for individual retail schemes that are not eligible to be recognised through the OFR because they are not covered by an equivalence determination for retail schemes. Section 272 will also remain for MMFs that still wish to market to both retail and professional investors, and which are assessed as MMF equivalent but not eligible to be recognised under the OFR.
	The Act makes minor amendments to section 272 to make it more efficient for the industry and the FCA, but this does not change the fundamental features of the in-depth assessments required for schemes accessing the UK market through this route.