Tag Archives: AIFMD

EU: Final ESMA Guidelines on UCITS V remuneration provisions: ESMA addresses the application of the proportionality principle under UCITS V and AIFMD

The European Securities and Markets Authority ("ESMA") has published its final guidelines on the remuneration requirements of the UCITS V directive (the "UCITS V Guidelines").  The key issue addressed by ESMA is the ability for smaller or less complex managers … Continue reading

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Filed under Asset management, EU, Funds

EU: ESMA disagrees with the EBA on proportionality: guidelines on remuneration under UCITS V are published for consultation

On 23 July 2015, the European Securities and Markets Authority (“ESMA”) published its draft guidelines on the implementation of the UCITS V remuneration principles for consultation.  In the consultation, ESMA’s approach to the application of proportionality differs from that of the European Banking Authority (EBA) … Continue reading

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Filed under EU, Europe, France, Germany, Italy, Remuneration, Spain

AIF and UCITS marketing in France: the AMF clarifies its regulations

The AMF has issued a position and an instruction dated 30 June 2014 clarifying the rules for marketing AIFs (alternative investment funds) and UCITS (undertakings for the collective investment of transferable securities) that derive from Directive 2011/61/EU of the European … Continue reading

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Filed under Europe, France, Funds

France: Requirements regarding share acquisitions by an Alternative Investment Fund (AIF)

The AIFM Directive contains requirements for AIF managers, including regulatory notifications, in respect of share acquisitions.  It was implemented into French law in July 2013, introducing a number of requirements for AIFs and their management companies.  On 14 May 2014, … Continue reading

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Filed under European Regulation, France, Funds

UK: Changes to voluntary jurisdiction of the Financial Ombudsman Service

The Financial Ombudsman Service (FOS) has published a feedback statement on its consultation on proposed amendments to the scope of its voluntary jurisdiction.  The FOS received no responses to its consultation.   The Board of the Financial Ombudsman Service has accordingly made – … Continue reading

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Filed under Asset management, EU, Europe, Investment Funds

EU: 22 July 2013 is here, so what happens now? Managers transition into the new regulatory landscape of the AIFMD

In some respects the wait is over.  It is 22 July 2013, the date for the national transposition of the Alternative Investment Fund Managers Directive (“AIFMD“) across Europe is here.  There is now a new regulatory regime and set of … Continue reading

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Filed under Asset management, EU, Investment Funds

AIFMD: Back to basics on scope and marketing following the Commission’s Q&A and the FCA’S CP13/9

In some ways it is surprising that four years on from the first appearance of the draft of the Alternative Investment Fund Managers Directive (the “Directive”) and only weeks away from its national transposition across EU member states, we find ourselves … Continue reading

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Filed under Asset management, EU, Europe, European Regulation, Funds

UK: Firms needing early full-scope AIFM authorisation must complete FSA’s survey

UK Alternative Investment Fund Managers (AIFMs) that may need early full-scope authorisation in order to continue their operations in other EEA jurisdictions immediately following transposition of the Alternative Investment Fund Managers Directive (AIFMD) must submit responses to the FSA’s survey by 28 March … Continue reading

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Filed under EU, FSA, Investment Funds, UK, UK Legislation

Highlights from Part 1 of the FSA’s Consultation Paper on implementation of the AIFMD

The Alternative Investment Fund Managers Directive (the “AIFMD”) is due to be implemented by Member States at a national level by 22 July 2013 and will govern many aspects of the way in which most investment fund managers established in … Continue reading

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Filed under Asset management, EU, European Regulation, FCA, FSA Consultations, UK

The Treasury Select Committee (“the Committee”) published a report on its inquiry into the Retail Distribution Review (“RDR”) on Saturday, and recommends that in order to allow advisers to satisfy the requirements of the RDR, the FSA should defer its implementation for 12 months.

It is imperative for HR professionals, in-house counsel, compliance officers and others with responsibility for remuneration-related issues within firms who will be covered by the Alternative Investment Fund Managers Directive (“AIFMD“) to be aware of the impact of the AIFMD … Continue reading

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Filed under Europe, European Regulation, FSA, FSA Rules, JURISDICTIONS, UK