Second FSA consultation paper on transposing the AIFMD
On 19 March 2013, the FSA (now the FCA) published its second consultation paper on transposing the Alternative Investment Fund Managers Directive (AIFMD) into UK law (CP2). While the FSA has not been able to cover all the items it said it would in the first consultation paper, CP2 does offer some more guidance, which firms will find useful in getting AIFMD ready. Some of the key points are:
- Additional guidance on what an Alternative Investment Fund (AIF) is, what is likely to be excluded and how you determine whether your funds are caught or not. If you do not read anything else, read the draft handbook text for the PERG sourcebook.
- Helpful Q&As on joint ventures, REITs, co-investment vehicles, carry vehicles, defined investment policies and much more.
- Details on how marketing under the AIFMD will interact with the financial promotion regime, including a statement that communications on the basis of draft documents will not be considered by the FCA as marketing under the AIFMD.
- Additional measures on how other FCA rules will apply to alternative investment fund managers (AIFMs) and depositaries and the fees applicable to firms…
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.
News from Nabarro
Briefings from Nabarro
The ABI has issued guidance on lock-up agreements, in particular in response to concerns over the extent to which lock-ups are waived during the lock-up periods.
Nabarro partner Martin McKervey shares his thoughts on unlocking export growth.
Analysis from The Lawyer
Clients are more willing to bring claims against professional service providers but the risk to defendants is not as dramatic as it might seem
Real estate continues to be the key money spinner for Nabarro, which has always been known for its work in the UK property market, (although) last year results were up across the firm. Google’s ...