European Securities and Markets Authority will use consultation responses to develop regulatory technical standards for the AIFMD
ESMA has today published a discussion paper on “Key concepts of the Alternative Investment Fund Managers Directive and types of AIFM“. The discussion paper covers:
- Definition of AIFM: The range of functions that an AIFM must carry out according to the provisions of the AIFMD and to what extent it may delegate those functions to third parties.
- Definition of AIF: Guidance on determining whether or not an entity falls within the definition of AIF and whether the entity managing it falls within or outside the scope of the AIFMD.
- UCITS managements companies: ESMA’s interpretation of the interpretation between the AIFMD and the UCITS Directive.
- Treatment of MiFID firms and Credit Institutions.
Responses are invited by 23 March 2012. The text of the AIFMD is here.
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