AIFMD – FSA Releases Second Consultation Paper

The United Kingdom's Financial Services Authority (FSA) has today published its second consultation paper on the implementation of the Alternative Investment Fund Managers Directive (AIFMD).  This follows the publication of its first consultation paper on implementation in November 2012.

The key areas covered by the consultation paper are:

  • the FSA’s approach to giving guidance on the scope of AIFMD
  • amendments to existing conduct of business rules relating to AIFMs
  • additional rules on the proposed prudential rules for “small AIFMs”
  • protection of client assets at depositories
  • changes to UK marketing rules for AIFs.

The consultation paper also confirms plans for a further consultation paper on the impact of the implementation of the AIFMD from non-EEA AIFMs, which will be published after 1 April.

The link below will direct you to the consultation paper on the FSA’s website—

http://www.fsa.gov.uk/static/pubs/cp/cp13-09.pdf

We will be writing to you with a summary of the key provisions and implications of the consultation paper shortly.

Contact Information

If you have any questions concerning this alert, please contact—

Tim Pearce
tpearce@akingump.com
44.20.7012.9663
London

Ian Meade
imeade@akingump.com
44.20.7012.9664
London

David M. Billings
dbillings@akingump.com
44.20.7012.9620
London

Jon Hanifan
jhanifan@akingump.com
44.20.7012.9708
London

Prakash H. Mehta
pmehta@akingump.com
1.212.872.7430
New York

Eliot D. Raffkind
eraffkind@akingump.com
1.214.969.4667
Dallas

Stephen M. Vine
svine@akingump.com
1.212.872.1030
New York

Kelli L. Moll
kmoll@akingump.com
1.212.872.8041
New York

Anna Maleva-Otto
amalevaotto@akingump.com
44.20.7012.9704
London