News, insight and market knowledge on regulatory and compliance issues from Schulte Roth & Zabel
The European Securities and Markets Authority (‘ESMA’) published its first set of advice to the European Parliament, the Council and the Commission in July 2015 on the extension of the AIFMD marketing passport to six non-EU countries (Guernsey, Hong Kong, Jersey, Switzerland, Singapore and the United States).
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On 30 July 2015, the European Securities and Markets Authority (‘ESMA’) published its advice to the European Parliament, the Council and the Commission on the extension of the marketing passport to non-EU alternative investment managers (‘AIFMs’) and alternative investment funds (‘AIFs’) under the EU Alternative Investment Managers Directive (‘AIFMD’). The marketing passport is currently only…
Recent regulatory reforms have changed the way in which private funds are being offered to European investors. The Alternative Investment Fund Managers Directive (“AIFMD”) became law across the EU during 2013 and 2014, and the new Swiss regime is due to come fully into force on March 1, 2015. In this article, SRZ partners Anna…
As we recently reported, the pan-European regulator ESMA announced that it had approved the first trade repositories to collect and maintain the records of derivatives contracts. The reporting obligations under the European Market Infrastructure Regulations (“EMIR”) with respect to derivative transactions do not apply to non-EU funds managed by US managers. US managers of…
The hedge fund industry has been in a period of unprecedented regulation. New rules have come fast and furious, along with stepped-up examination and enforcement activity. Is this a bubble, which will burst like others before it, or a ‘new normal’ for the industry?
Click here to read my HFMWeek column, which discusses new and…
The Alternative Investment Fund Managers Directive (“AIFM Directive“) of the European Union (“EU”) must be implemented into the national law of all EU countries by 22 July 2013. The AIFM Directive, which sets forth rules for the authorisation, operation and transparency (i.e., disclosure requirements) of managers of alternative investment funds (“AIFs”), will apply…
HM Treasury, which is the legislative body responsible for implementing the Alternative Investment Fund Managers Directive (“AIFM Directive”) into UK law, has just published a Q&A document on proposed amendments to the draft regulations “for the implementation of the AIFM Directive in the UK (the “Q&A Document”). The Q&A Document clarifies that HM…
Checklists are popular as the year end approaches. For hedge fund managers, Dodd-Frank and the Alternative Investment Fund Managers Directive make these checklists even more challenging. Most managers have devoted more resources than ever before to understanding and complying with all of the applicable requirements. But when it comes to regulatory compliance, well-intentioned managers may…
The November 2012 issue of Financier Worldwide Magazine included a discussion on Alternative Investment Fund Managers Directive compliance. The discussion highlighted the background on key political arguments that led to the drafting of the AIFM Directive, provisions of the Directive considered most controversial, what steps fund managers should take to prepare for compliance and the…
