Luxembourg legal update — March 2013: the ESMA guidelines on sound remuneration policies of AIFMs
This section of Arendt & Medernach’s Luxembourg legal update for March 2013 looks at the ESMA guidelines on sound remuneration policies of AIFMs.
With regard to the recent developments in the context of the AIFMD, on 11 February 2013 the European Securities and Markets Authority (ESMA) published its final Guidelines on sound remuneration policies under the Alternative Investment Fund Managers Directive (AIFMD; the directive).
Pursuant to Article 13 (2) of the AIFMD, ESMA was entrusted with the task of adopting guidelines on sound remuneration policies which comply with the remuneration policy principles laid down in Annex II of the Directive. The underlying aims of these guidelines are to curb excessive risk taking by alternative fund managers and to help to align the interests of both fund managers and investors.
This information focuses on key principles of the final guidelines, which are similar to the remuneration policy rules applicable to banks and investment firms (see our Newsflash of December 2010 regarding CEBS Guidelines on remuneration policy)…
If you are registered and logged in to the site, click on the link below to read the rest of the Arendt & Medernach briefing. If not, please register or sign in with your details below.
News from Arendt & Medernach
Briefings from Arendt & Medernach
Restrictive measures against the Russian Federation in relation to events in Ukraine: how will they affect you?
The Council of the European Union has adopted new restrictive measures targeting co-operation and exchanges with the Russian Federation.
Tax Update — July 2014: new rules for exit tax on capital gains upon migration; the tax treaty network; and more
Arendt & Medernach has released the July edition of its Tax Update.