Guide to AIFMD 2014

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Articles

Sunil Gopalan, GFM Limited

Global Fund Media Guide to AIFMD 2014

The publication of the Global Fund Media Guide to AIFMD 2014 is timed to coincide with the 22 July 2014 date by which AIFMs are required to submit their applications for authorisation to their relevant competent authorities in compliance with the Alternative Investment Fund Managers Directive. »


Mike Hughes, Deutsche Bank

Prime broker relationships remain key

Last year there was considerable angst and uncertainty among hedge fund managers. Central to their concerns was the impact appointing an independent depositary under AIFMD would have on their existing prime brokerage relationships. Twelve months on, however, and much progress has been made to alleviate these fears, with Mike Hughes (pictured), Global Head of Fund Services at Deutsche Bank, referring to the period as a ‘game of two halves’ (in World Cup parlance). »


Gary Kaminsky, ConceptONE

The role of the CCO in a highly scrutinised global regulatory environment

By Gary Kaminsky, ConceptONE – It seems almost daily that regulators on both sides of the pond remind the industry of the importance of compliance and their high expectations of the individuals charged with managing the risks associated with operating an asset management company in the current environment. »


Tim Clipstone, Maples & Calder

The British Virgin Islands – AIFMD one year on

By Tim Clipstone (pictured) & Jill Shaw, Maples & Calder – It has been almost a year since the Alternative Investment Fund Managers Directive (“AIFMD”) was due to be implemented by the member states of the European Union (the “Member States”) on 22 July 2013 and a number of Member States have yet to enact legislation to transpose AIFMD while others, including the United Kingdom, Ireland and Luxembourg, enacted transitional provisions which gave managers of alternative investment funds one year, until 22 July 2014, to determine what steps, if any, need to be taken to ensure compliance with the provisions of AIMFD. »


Paul Govier, Maples & Calder

The Cayman Islands – End of transitional period

By Paul Govier (pictured) & Harjit Kaur – The European Alternative Investment Fund Managers Directive (“AIFMD”) introduces a new regime governing the management and marketing of alternative investment funds (“Funds”) in the EU. The transitional period for the implementation of the AIFMD expires on 22 July 2014, and from this date Cayman Islands Funds (“Cayman Funds”) may only be marketed in the member states of the EU in compliance with the requirements of the AIFMD, unless a relevant exemption applies. Different marketing regimes will apply from the end of the transitional period to 2018 and beyond. »


Aaron Payas, Hassans

Gibraltar – Flexibility and speed to market

Gibraltar has taken a clever approach to ensuring that the Alternative Investment Managers Directive (AIFMD) is as appealing as possible to managers looking to launch AIFMD-compliant funds across Europe. It is, in short, the most cost-efficient jurisdiction, whilst its Experienced Investor Fund (EIF) offers managers one of the fastest routes to market. »


Fiona Le Poidevin, Guernsey Finance

Guernsey – AIFMD answers to be found here

By Fiona Le Poidevin, Guernsey Finance – Guernsey has been on the front foot throughout the conception, development and implementation of the Alternative Investment Fund Managers Directive (AIFMD). »


Donnacha O'Connor, Dillon Eustace

Ireland – Status of the AIFMD implemention

By Donnacha O’Connor, Dillon Eustace – The Irish AIFMD rules – The Irish Minister of Finance signed the European Union (Alternative Investment Fund Managers) Regulations, 2013 into law on 16th July, 2013. These regulations transposed Directive 2011/61/EU into Irish law with substantially no gold-plating. »


Olivier Sciales, Chevalier & Sciales

Luxembourg – prepares for central role as AIFMD finally takes effect

By Olivier Sciales, Chevalier & Sciales – As, after more than four years of preparation, the European Union’s Alternative Investment Fund Managers Directive takes full effect for existing managers, Luxembourg finds itself in the position it wanted to be in – ideally placed to become a domicile and servicing platform for alternative funds distributed across borders in the same way that it has become for traditional retail funds under the UCITS regime. »


Dr Christopher Buttigieg, Malta Financial Services Authority

Malta – regulation of AIF managers

By Dr Christopher Buttigieg and Dr Isabelle Agius, Malta Financial Services Authority – This paper attempts to summarise the legislative framework adopted in Malta for the implementation of the Alternative Investment Fund Managers Directive (‘AIFMD’). »


UBS logo

UBS Fund Services covers all bases under AIFMD

It’s fair to say that under AIFMD UBS Fund Services has got all bases covered. Not only has the firm developed a depositary solution to support both EU-based and non-EU based funds under Article 21 and Article 36 of the directive, it also has a management company platform that can allow it to act as a third party AIFM (after 22th of July) as well as the ability to act as the Swiss legal representative to managers wishing to continue marketing their AIFs into Switzerland. »


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