EUROPE: ESMA publishes document on MoUs signed by European Authorities

Friday October 18 2013

The European Securities and Markets Authority (ESMA) has published a document that outlines the status of each European Authority in relation to AIFMD Memorandums of Understanding (MoUs) with non- EU countries.

The MoUs are a pre-condition under the Directive to allowing certain cross-border activities to take place, and are designed to help EEA regulators supervise compliance with the AIFMD requirements when a non-EEA entity is involved in the management or marketing of an alternative investment fund within the EEA. They will facilitate the exchange of information between regulators, cross-border on-site visits and mutual assistance in law enforcement.

A number of EU Authorities have concluded all MoUs with applicable non-EU countries including the AMF (The Netherlands), the CSSF (Luxembourg), the FSA (Romania), Finansinspektionen (Sweden), FKTK (Latvia), FCA (UK), FSC (Bulgaria), HCMC (Greece), Bank of Lithuania (Lithuania), MFSA (Malta), PSAF (Hungary), Fjármálaeftirlitið (Iceland), Finanstilsynet (Norway), and Finanzmarkt (Liechtenstein).

Click on the below link for the ESMA document.