CIR 6A.1.4 CIR 6A.1.4
Without limiting any other obligations of the Fund Manager under the Law or these Rules, a Fund Manager using a Fund Platform must ensure that the ICC:(a) maintains adequate infrastructure to provide services to Funds on the Fund Platform, taking into account the type or specialist class of each particular Fund;(b) does not carry on any activity in relation to a Fund on the Fund Platform, other than the activities which the Fund Manager is authorised and permitted to undertake in respect of the relevant Fund;(c) does not provide any service to a Fund that is not an Incorporated Cell of the ICC; and(d) maintains procedures and up-to-date records to demonstrate to the DFSA:(i) the activities that the ICC undertakes in relation to each Fund on the Fund Platform; and(ii) that all applicable requirements have been met in respect of each Fund on the Fund Platform, taking into account the type or specialist class of the relevant Fund.
CIR 6A.1.4 Guidance
Guidance1. Under Rule 6A.1.4(b), a Fund Manager using a Fund Platform cannot establish on its Fund Platform any Funds other than a QIF if its authorisation is limited to managing QIFs. What type of Funds a Fund Manager can manage is reflected in the fees applicable to Fund Managers under FER.2. Rule 6A.1.4(c) does not prevent a Fund Manager from being able to share resources available to it (such as its IT systems and staff) between a Fund Platform and other Funds the Fund Manager manages on a stand-alone basis. However, a Fund Manager allocating its resources between the Fund Platform and such a Fund should be able to demonstrate (for example, through its written records) effective functional separation.