AIFMD

UK Extends AIFMD Transitional to Non-EEA Fund Managers

by Tim Aron | Katten Muchin Rosenman LLP on 5/16/2013

On April 29, HM Treasury issued a Question and Answer publication which stated its intention to extend the transition period of the Alternative Investment Fund Managers Directive (AIFMD) to existing third-country Alternative...more

Corporate and Financial Weekly Digest - May 10, 2013

by Katten Muchin Rosenman LLP on 5/13/2013

In this issue: - SEC Roundtable Discusses Current Securities Law Topics at 33rd Annual Ray Garrett Jr. Corporate and Securities Law Institute - SEC Reopening Comment Periods for Certain Rulemaking Releases and...more

Financial Services – Update on UK and European Regulatory Developments - May 2013

by Richard Frase | Dechert LLP on 5/10/2013

This update summarises current regulatory developments impacting the asset management sector in the UK and throughout the European Union. In this issue: - Part A – Regulation of Financial Markets - Part B –...more

Treasury Changes Course on UK Implementation of AIFMD

by William Yonge | Morgan Lewis on 4/30/2013

UK will now allow qualifying non-EEA firms to rely on the one-year transitional provision. On 29 April, HM Treasury published a short Q&A on the transposition of the Alternative Investment Fund Managers Directive...more

All Fund Managers Marketing in the European Union Must Take Note: First Deadline Under European Union Alternative Investment Fund...

by Jeffrey D. Collins, Meredith Haviland | Foley Hoag LLP on 4/9/2013

The first compliance date under the European Union’s recently adopted Alternative Investment Fund Managers Directive (the “AIFMD”) is July 22, 2013....more

European Securities and Markets Authority Guidelines on Sound Remuneration Policies under the AIFMD

by Jason Butwick, Ed Holmes | Dechert LLP on 4/4/2013

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

Financial Services Quarterly Report - First Quarter 2013: The UCITS Agenda

by Barbara Cronin, Declan O’Sullivan | Dechert LLP on 3/30/2013

The first item on the UCITS agenda for 2013 – the ESMA Guidelines on ETFs and Other UCITS Issues (the “Guidelines”) – has gone live. This article provides an update and clarity around the recently finalised Guidelines2 since...more

UK Regulators Propose Implementing Rules and Regulations on AIFMD

by Proskauer Rose LLP on 3/29/2013

On 19 March 2013, the UK Financial Services Authority (FSA) published Part II (CP2) of its three-part consultation series on Implementation of the Alternative Investment Fund Managers Directive (AIFMD). The consultation...more

Financial Services Quarterly Report - First Quarter 2013: The Role of the Depositary Under the AIFM Directive

by Richard Frase | Dechert LLP on 3/28/2013

The Alternative Investment Fund Managers Directive (the “AIFM Directive”) requires that private funds appoint a “depositary”. To date, there has been no cross-border regulatory requirement for hedge or other private funds to...more

FSA Publishes Second AIFMD Consultation Paper

by Tim Aron, Edward Black | Katten Muchin Rosenman LLP on 3/27/2013

On March 19, the UK Financial Services Authority (FSA) published Consultation Paper CP13/9, its second consultation on the rules and guidance required for the UK transposition of the EU Alternative Investment Fund Managers...more

Corporate and Financial Weekly Digest - March 22, 2013

by Katten Muchin Rosenman LLP on 3/25/2013

In this issue: - NASDAQ Proposes Internal Audit Function Requirement for Listed Issuers - FINRA’s Frequently Asked Questions on Electronic Blue Sheet Submissions Updated Regarding Order Execution Time -...more

The AIFM Directive Regulatory Reporting Template, and its Comparison to SEC Form PF

by Dechert LLP on 3/22/2013

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

The Alternative Investment Fund Managers Directive – How Does It Affect Non-EU Managers?

by Tim Aron, Carolyn H. Jackson, Nathaniel W. Lalone | Katten Muchin Rosenman LLP on 3/20/2013

The EU Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive” or “AIFMD”) applies to managers of alternative investment funds (each an “Alternative Investment Fund Manager” or “AIFM”). The main...more

UK Financial Services Authority Releases AIFMD Regulatory Survey

by William Yonge | Morgan Lewis on 3/18/2013

UK-based alternative investment fund managers should complete the survey, which responds to industry pressure regarding the time line for AIFMD authorisation applications, before the 28 March deadline....more

AIFMD Implementation – What Should Non-EU Private Fund Advisers be doing?

by Andrew Henderson, Katerina Sandford | Ropes & Gray LLP on 3/7/2013

The Alternative Investment Fund Managers Directive (“AIFMD”) has been in the public domain for over two years. However, various legal measures, both at European Union (“EU”) and at individual EU Member State (“Member State”)...more

The Limits of Delegation Under the Alternative Investment Fund Managers Directive

by Tim Aron, Carolyn H. Jackson, Nathaniel W. Lalone | Katten Muchin Rosenman LLP on 3/1/2013

The EU Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive” or “AIFMD”) limits delegation by a manager regulated under the Directive (an “Alternative Investment Fund Manager” or “AIFM”). Delegation by...more

Hedge Funds And Private Equity Groups On SEC Examination Priority List

by Jill Radloff | Leonard, Street and Deinard - Dodd-Frank and... on 2/25/2013

The Office of Compliance Inspections and Examinations, or OCIE, administers the SEC’s nationwide examination and inspection program. The National Examination Program, or NEP, has published its examination priorities to...more

AIFMD: ESMA Final Guidelines on Sound Remuneration Policies

by Orrick - Structured Finance Group on 2/21/2013

On February 11, the European Securities and Markets Authority (ESMA) published its final report in relation to sound remuneration policies under the Alternative Investment Fund Managers Directive (AIFMD). ...more

Orrick's Financial Industry Week In Review - February 19, 2013

by Orrick, Herrington & Sutcliffe LLP on 2/19/2013

In This Issue: - Financial Industry Developments •CFPB Implementation Plan for Mortgage Rules •FDIC Proposed Rule on Insured Deposits at Foreign Branches of U.S. Banks •CFPB Bulletin on Servicers'...more

Preparing for AIFMD: Some Practical Tips, Part 1

by Alice Bell, Sean Donovan-Smith, Philip Morgan | K&L Gates LLP on 2/19/2013

In This issue: - A general round-up of key provisions in the AIFMD level 2 implementing regulations - Scope of the AIFMD - Timetable and transitional relief - Cross-border marketing - Delegation and...more

ESMA Publishes Final AIFMD Remuneration Guidelines

by Proskauer Rose LLP on 2/15/2013

On 11 February 2013, the European Securities and Markets Authority (ESMA) published its final Guidelines on remuneration of alternative investment fund managers (AIFMs) under the Alternative Investment Fund Managers Directive...more

Steuerliche Änderungen bei Anlagen in ausländische Investmentfonds

by Thomas Gierath | Reed Smith on 2/15/2013

Deutschland wie auch andere Länder der EU bereiten derzeit die erforderlichen Gesetze zur Umsetzung der sog. AIFM-EU-Richtlinie vor, welche die aufsichtsrechtliche Regulierung von sog. Alternativen Investmentfonds mit sich...more

AIFMD: Level 2 Regulation adopted by the European Commission

by Aki Corsoni-Husain, Philip Graham, Jonathan Law, Sean Scott | Harney Westwood & Riegels on 1/18/2013

Harneys continues to monitor developments related to the EU’s AIFMD with a focus on how it will affect our clients in the Cayman Islands and BVI. The most significant recent development is that the AIFMD Level 2 Regulation...more

Year-End Developments And Compliance Checklists

by Cole Beaubouef, Richard Bernstein, George Danenhauer, Marie DeFalco, David Goret, Peter Greene, Elaine Hughes, Allen Levithan, Matthew Magidson, Robert Minion, Scott H. Moss | Lowenstein Sandler LLP on 1/17/2013

Lowenstein Sandler’s Investment Management Group is pleased to provide you with (i) a summary of recent legislative and regulatory developments that impact the investment management community; and (ii) checklists of year-end...more

UK Treasury Publishes First Consultation on AIFMD Implementation

by Proskauer Rose LLP on 1/16/2013

On 11 January 2013, HM Treasury published its first consultation on Alternative Investment Fund Managers Directive (AIFMD) implementation in the UK, entitled "Transposition of the Alternative Investment Fund Managers...more

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