AIFMD • Funds-Axis Limited

CP86 Thematic Review and Conclusions

Investment Compliance, Regulatory InsightsBy Trevor Dempster 23 October 2020

On 20th October 2020, the Central Bank of Ireland (CBI) published a letter to all UCITS management companies, authorised Alternative Investment Fund Managers (AIFMs), self-managed UCITS investment companies and internally managed Alternative Investment Funds which are authorised AIFMs. The letter sets out the CBI’s conclusions of its thematic inspection of compliance with its Fund Management Companies Guidance, which concluded the three-part CP86 consultation process.

Regulatory Round-up: August 2020

Regulatory Round-upsBy Trevor Dempster 3 September 2020

All eyes may be on the month ahead as we enter the final countdown for the entering into force of ESMA’s liquidity stress testing guidelines, however, the past month still brought several important developments on topics such as: AIFMD; Money Market Funds; PRIIPs; Liquidity; and Short Selling.

ESMA’s AIFMD Recommendations – A Specific Look at Delegation

Regulatory Insights, Regulatory ReportingBy Trevor Dempster 25 August 2020

As discussed in our previous blog , ESMA has written to the European Commission ahead of the EU executive’s review of the AIFMD regulation. Although ESMA has recommended a raft of potential changes, one area that appears to be garnering particular attention, is the issue of delegation and substance.

ESMA’s Proposed Changes to AIFMD

Regulatory Insights, Regulatory ReportingBy Trevor Dempster 25 August 2020

When the European Commission announced back in March 2018, a proposal to amend the Alternative Investment Fund Managers Directive (AIFMD), in order to provide for a uniform regime for “pre-marketing” of alternative investment funds (AIFs) across Europe, there were many commentators that declared that “AIFMD II had finally arrived”.

ESMA’s Proposed Changes to AIFMD Reporting Regime

Regulatory Insights, Regulatory ReportingBy Trevor Dempster 25 August 2020

Last week, ESMA published a letter to the Commission setting out 19 key areas where it believes AIFMD could be improved. Specifically, ESMA’s letter includes: harmonising the AIFMD and UCITS regimes; delegation and substance; liquidity management tools; leverage; and the harmonisation of supervision of cross-border entities.

Regulatory Round-up: June 2020

Regulatory Round-upsBy Trevor Dempster 1 July 2020

This month’s regulatory round-up pulls together some interesting regulatory developments we have tracked throughout June. The past month brought a number of important developments, particularly on the EU Money Market Fund Regulation, with ESMA publishing updated reporting instructions, and translations to the MMF guidelines.

ESMA Briefing on Supervision of Costs in UCITS and AIFs

Regulatory Insights, Regulatory ReportingBy Trevor Dempster 8 June 2020

The European Securities and Markets Authority (ESMA) has published a supervisory briefing on the supervision by National Competent Authorities (NCAs) of costs applicable to Undertakings for the Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs).

UCITS IV and AIFMD Derivatives and Risk Management Training

News & EventsBy Trevor Dempster 1 March 2017

Our UCITS IV and AIFMD Derivatives and Risk Management training course was held in London on the 1st March. Like the UCITS Investment and Borrowing Rules course there was strong…

Regulatory Reporting Challenges Facing Asset Managers Conference

News & EventsBy Trevor Dempster 15 April 2016

Fund managers are having to deal with an increasing amount of regulation which is placing a significant burden on them. Against this backdrop, we thought it would be useful to…

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