Alternative Investment Fund Managers Directive – ESMA’s technical advice on third countries
Following the publication by the European Securities and Markets Authority (ESMA) of its technical advice on implementing the Alternative Investment Fund Managers Directive (AIFMD), this briefing, the last in our series, examines the outstanding issues in relation to third countries.
ESMA’s advice addresses four key areas in relation to third countries which relate to discussions raised in ESMA’s second consultation paper on the AIFMD implementing measures dated 23 August 2011. In summary, those four areas are:
- the delegation of portfolio management or risk management to third country undertakings;
- co-operation arrangements between EU and non-EU regulators;
- the procedure for determining the member state of reference; and
- the criteria for assessing the effective prudential regulation and supervision of third country depositaries.
If you are registered and logged in to the site, click on the link below to read the rest of the Nabarro briefing. If not, please register or sign in with your details below.
Click on the link above to download briefing.
News from Nabarro
News from The Lawyer
Briefings from Nabarro
The implications of the Google ruling will be relevant to all types of business — including real-estate businesses.
All employees can ask for flexible working from 30 June. Here are Shoosmiths’ top three tips for avoiding the doom and riding the wave as smoothly as possible.
Analysis from The Lawyer
Nabarro senior partner and self-confessed “IT geek” Graham Stedman is heralding a major set of investments in technology ahead of the firm’s move to 125 London Wall this year.
Clients are more willing to bring claims against professional service providers but the risk to defendants is not as dramatic as it might seem