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Subject: Datox Pulse: FCA consults on reforming the UK AIFM regime and creating a new ALTS sourcebook
The FCA has opened consultation CP26/28 on a redesigned UK Alternative Investment Fund Managers regime. The proposals would replace the current approach with updated size thresholds, a new small/medium/large three-tier structure, and a new Alternative Investment Funds sourcebook (ALTS) to consolidate most AIFM rules. Responses to the main consultation are due by 14 October 2026, with most discussion-chapter responses due by 18 September 2026. The FCA says the currently envisaged implementation date for the new regime is 2028.
What changed
Affected reports
CP26/28 consultation response tracker and approval record, AIFM size-tier classification and threshold assessment control, AIFM rule-mapping inventory to proposed ALTS sourcebook, AIFM implementation gap assessment and remediation plan, AIFM regulatory reporting impact assessment to be coordinated with the separate FCA FRAME consultation
Effective
Not specified
Recommended actions