AIFMD application deadline extended — compliance deadline remains the same
When the Alternative Investment Fund Managers Regulations 2013 were first published, existing managers had to submit their authorisation/registration applications to the Financial Conduct Authority (FCA) in sufficient time to allow the FCA to determine them before 22 July 2014. That date has now slipped.
The new position is that an existing manager must submit its application before 22 July 2014. Provided that the manager gets its application in before 22 July 2014, it can continue to operate after 22 July 2014 while the FCA reaches its determination…
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Also: collateral purpose of winding-up petition is not an abuse of process; and more.
…despite representation and warranty to the contrary. A helpful decision for lenders