The text of the Directive amending the Alternative Investment Fund Managers Directive (AIFMD) (AIFMD II) was published on 26 March 2024 and will enter into force on 15 April 2024. AIFMD II introduces, among other changes,...more
HM Treasury has published a draft of the Alternative Investment Fund Managers (Amendment) (EU Exit) Regulations 2018, along with explanatory information. The draft Regulations will onshore the Alternative Investment Fund...more
Side letters are an (increasingly) common way of formalising negotiated arrangements between a private fund and an investor. Whilst used more widely in the closed-ended fund context (given the limited withdrawal rights...more
Europe is the largest market for fund products after the United States. However, despite the advances of the European single market, there remains a confusing combination of pan-European and country specific rules governing...more
Belgian FSMA Issues Two Communications on the Marketing of Units in EEA and Non-EEA AIFs - The Belgian Financial Services and Markets Authority (“FSMA”) published two communications dated 24 February 2017 on the...more
The European Securities and Markets Authority (“ESMA”) published further advice to the European Parliament, Council and Commission on the extension of the AIFMD passport for non-EU jurisdictions on 18 July 2016. Key...more
EU Capital Markets Union: FCA Responds to European Commission Green Paper - The FCA published its response to the European Commission's green paper on 27 May 2015 on building a capital markets union (CMU). The FCA...more