EUROPEAN UNION: ESMA Call for Evidence on AIFMD Passport and Non-EU AIFMs

Monday January 12 2015

The European Securities and Markets Authority (ESMA) has initiated a call for evidence regarding the functioning of the EU passport and the marketing of third party Alternative Investment Fund Managers (AIFMs) under the Alternative Investment Fund Managers Directive (AIFMD).

The call for evidence requires ESMA to provide its opinion to the European Parliament, Council and Commission by July 2015. Pursuant to Articles 32 and 33 of the AIFMD, ESMA must issue its opinion on the functioning of the passport for EU AIFMs and national private placement regimes pursuant to articles 36 and 42 of the AIMFD.

ESMA must also give advice on the application of the passport to non-EU AIFMs pursuant to Article 35 and Articles 37 and 41 AIFMD.

The questions regarding the functioning of the passport for EU AIFMs will be directed toward the experience of the EU asset management industry and investors on the functioning of the passport for EU AIFMs managing and/or marketing EU AIFs.

The questions regarding the functioning of national private placement regimes will be directed toward the experience of the EU and non-EU asset management industries and investors.

Click on the above link to access ESMA’s call for evidence document.