Chevalier & Sciales


ESMA unveils AIFMD supervisory pact with 34 non-EU regulators

The European Securities and Markets Authority (ESMA) has approved co-operation arrangements between EU securities regulators, with responsibility for the supervision of alternative investment funds including hedge, private-equity and real-estate funds, and 34 of their global counterparts.

The ESMA has negotiated memoranda of understanding on behalf of the 27 EU member states’ securities regulators, including Luxembourg’s CSSF, as well as their counterparts from Croatia, Iceland, Liechtenstein and Norway as members of the European Economic Area.

The co-operation arrangements will help EU regulators to supervise efficiently the way non-EU alternative fund managers comply with the rules of the Alternative Investment Fund Managers Directive (AIFMD)…

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