The Alternative Investment Fund Managers Directive (“AIFMD”) imposes restrictions on “asset stripping” on managers (“AIFMs”) of alternative investment funds (“AIFs”) that acquire control of EU companies. The rules contain...more
Recap of popular updates covering latest developments in the European Union....more
The EU Alternative Investment Fund Managers Directive (AIFMD) has now been in force for several months. This overview note is aimed at US managers who have not yet had to get to grips with the AIFMD but will need to raise...more
Having been one of the first countries to implement the Alternative Investment Fund Managers Directive (“AIFMD”) and, as far as we can gather, having been the first country to approve an Alternative Investment Fund Manager...more
The UK Financial Conduct Authority (FCA) published its Policy Statement 13/5 on 28 June 2013, containing its (substantially) final rules and guidance to implement the Alternative Investment Fund Managers Directive...more
SEC Updates Form PF "Frequently Asked Questions" -
The SEC recently released updated "Frequently Asked Questions" relating to Form PF that, among other things, clarified how Form PF filers should...more
In cases where a US investment adviser appoints an EEA sub-adviser, the parties concerned will need to analyse which entity will be the AIFM. Whether such arrangements relate to group entities or third parties, the parties...more
There has been some uncertainty as to the terms on which non-EEA managers (including US investment advisers) will be able to continue to directly manage the portfolios of EEA domiciled AIFs (e.g. Irish or Luxembourg domiciled...more
This newsletter provides an overview of some of the main financial services regulatory developments in the UK and EU from the period 1 January 2013 to 1 June 2013.
Banking and Prudential Supervision Basel 3/Capital...more
Arrangements allow EU securities regulators to supervise non-EU alternative fund managers and thereby allow such managers access to the EU.
On 30 May, the European Securities and Markets Authority (ESMA) announced that...more
More than seven months after publishing its consultation paper, the European Securities and Markets Authority (ESMA) recently published final guidelines (Guidelines) on sound remuneration policies under the Alternative...more
The Alternative Investment Fund Managers Directive (the “Directive”) will introduce new regulatory reporting requirements for alternative investment fund managers (“AIFMs”) covered by the Directive. These will include all...more
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