EUROPE: Delegated Regulation on AIFMD published in Official Journal

Tuesday April 7 2015

The Commission Delegated Regulation (EU) 2015/514 of 18 December 2014 on the information to be provided by competent authorities to the European Securities and Markets Authority pursuant to Article 67(3) of Directive 2011/61/EU of the European Parliament and of the Council has been published in the EU Official Journal.

Under the Alternative Investment Fund Managers Directive, ESMA is required to assess the functioning of the EU passport regime, the operating conditions for Alternative Investment Funds and their managers and the potential impact of an extension of the passport.

The Regulation sets out the information that national regulators must provide ESMA, including information on:

• the number of authorised AIFMs in their jurisdiction

• problems encountered regarding the effective functioning of the notification system provided for in Articles 32 and 33 of Directive 2011/61/EU

• issues of investor protection in relation to AIFs marketed or managed from another Member State as well as AIFs marketed under Article 43 of Directive 2011/61/EU

• the effectiveness of the collection and sharing of information in relation to the monitoring of systemic risks

• the marketing of non-EU AIFs by EU AIFMs, and AIFs by non-EU AIFMs

The Regulation shall enter into force 20 days after its publication.

Click on the above link for the text of the Regulation.

For details of our services, including our complete AIFMD Annex IV reporting solution, please contact rosie@funds-axis.com.