The final text of the amendments to the EU Alternative Investment Fund Managers Directive (AIFMD)—known as “AIFMD II”—was published in the Official Journal of the European Union on March 26, 2024, and will enter into force on...more
1. Overview The new rules on the promotion of funds introduced by the new Cross-Border Distribution of Collective Investment Undertakings Directive and Regulation (Cross-Border Distribution of Funds (CBDF) Rules) are due to...more
6/29/2021
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Cross-Border ,
EU ,
European Securities and Markets Authority (ESMA) ,
Fund Managers ,
Investment Management ,
Investors ,
Marketing ,
Member State ,
National Private Placement Regimes (NPPR)
1. New EU and UK disclosure requirements -
The new disclosure requirements for investment managers and advisers with respect to their environmental, social and corporate governance (ESG) policies will apply in the European...more
11/25/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Green Finance ,
Investment Management ,
MiFID II ,
Popular ,
SFDR ,
Shareholder Rights ,
Sustainable Finance ,
Task Force on Climate-related Financial Disclosures (TCFD) ,
UCITS ,
UK
The European Commission has clarified in a letter to the Alternative Investment Management Association (AIMA) published on February 10, 2020, further to AIMA’s request for clarification, that the requirement to report...more
The new European Union rules requiring reporting by fund managers of securities financing transactions (SFT) take effect on October 11, 2020. While the scope of the reporting requirements under Article 4 of the Securities...more
1/23/2020
/ Alternative Investment Fund Managers Directive (AIFMD) ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Fund Managers ,
Legal Entity Identifiers ,
New Rules ,
Reporting Requirements ,
Securities Financing Transactions (SFTs) ,
SFTR ,
Third Country Entities (TCEs) ,
UCITS
As part of the EU Sustainability Action Plan and the Sustainable Finance initiative, the revised Directive 2007/36/EC (the “Shareholder Rights Directive” or “SRD II”) introduces new requirements on asset managers to establish...more
5/31/2019
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Disclosure Requirements ,
Final Rules ,
Financial Conduct Authority (FCA) ,
Institutional Investors ,
MiFID II ,
New Rules ,
Public Disclosure ,
Shareholder Rights ,
Stakeholder Engagement ,
UCITS
Regulation (EU) 2015/2365, the Securities Financing Transactions Regulation (SFTR), imposes a number of requirements on EU fund managers (see the previous Akin Gump client alert on SFTR, The New Securities Financing...more
Key Points -
- ESMA’s UCITS Remuneration Guidelines will apply from 1 January 2017 (subject to certain transitional provisions).
- They will affect UCITS Managers and delegates of UCITS Managers conducting...more
Four things you need to know:
- ESMA has been undertaking a review of whether or not a number of jurisdictions outside the EU might be eligible to benefit from the various passporting rights, which could be extended...more
Three things you need to know -
- The UK Financial Conduct Authority ("FCA") issued guidance (the “Guidance”) on the suspension of fund redemptions.
- The Guidance applies to all FCA-authorised managers...more
Hardwired into the European Union (EU) Alternative Investment Fund Managers Directive (AIFMD) is a mechanism that could enable a non-EU alternative fund manager domiciled outside the EU to become authorised by an EU regulator...more
On December 1, 2014, the European Securities and Markets Authority (“ESMA”) published a Consultation Paper (ESMA/2014/1326) on asset segregation under the Alternative Investment Fund Managers Directive (2011/61/EU) (“AIFMD”)....more
The U.K. government has today published the final text of the 2014 Finance Bill. As discussed in our previous Alert, issued on March 19, the Finance Bill includes...more
Chancellor George Osborne delivered his fifth coalition Budget today. In a wide-ranging statement, there are a significant number of tax-focused proposals that will make changes across the U.K. tax system. Some of these...more
The Financial Conduct Authority (FCA) has issued guidance on the application procedure for modifying the “funds under management” rule. This modification will allow alternative investment fund managers (AIFMs) that use...more
This alert will be of interest to FCA-authorised investment management firms that are registering, or are currently considering registering, as alternative investment fund managers (“AIFMs”).
...more
This alert will be of interest to U.K.-authorised investment management firms preparing to submit applications for variation of permission (VOP) to the Financial Conduct Authority (FCA) in connection with the implementation...more
This alert will be of particular relevance to U.K. alternative asset managers, preparing to submit variation of permission applications to the U.K. Financial Conduct Authority in relation to the Alternative Investment Fund...more
Summary -
The UK’s Financial Conduct Authority (“FCA”) has published draft guidance on the application of rules on remuneration (the “AIFMD Remuneration Rules”) to FCA-authorized firms, once they become authorized as...more
The U.K. Financial Conduct Authority (FCA) has written to the European Securities and Markets Authority (ESMA) to confirm that the FCA will comply with the ESMA guidelines relating to remuneration policies under the...more
The Alternative Investment Fund Managers Directive (AIFMD) is due to take effect in member states of the European Economic Area (EEA) on July 22, 2013. Some EEA member states (including Germany, Ireland, Luxembourg,...more
Our Investment Funds group has received an update on the changes to the private placement rules for marketing of alternative investment funds (“AIFs”) in Germany following the implementation of the Alternative Investment Fund...more
7/5/2013
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Banks ,
Compliance ,
EU ,
Foreign Banks ,
Foreign Investment ,
Investment Funds ,
Private Equity ,
Private Equity Funds ,
Private Placements
The U.K.’s Financial Conduct Authority (FCA) has published today, a policy statement that sets out its responses to the various consultations that have been undertaken in respect of the rules to be adopted by the FCA to...more