FINLAND: AIFMD Bill submitted to parliament

Friday September 6 2013

A Bill prepared by the Ministry of Finance of Finland for legislation on alternative investment fund managers has been submitted to the Finnish Parliament. The objective of the Bill is to implement the AIFMD and a new Act will be generated to achieve this. In addition, implementation will require amendments to 30 other statutes including the Investment Fund Act and the Act of the Financial Supervisory Authority.

The Bill brings previously unregulated activities within the scope of financial market regulation and official supervision and aims to minimise the adverse impact of new regulation on the Finnish market. The legislative proposals included in the Bill are expected to enter into force on 1 January 2014 at the latest.

Click on the above link for more details.