On November 14, the UK Financial Services Authority (FSA) published consultation paper CP12/32 “Implementing the Alternative Investment Fund Managers Directive” (AIFMD).
CP12/32 includes FSA’s AIFMD implementation proposals in the following areas:
- The prudential regime applicable to alternative investment fund managers;
- The regime for depositaries, including eligibility, capital requirements and independence requirements;
- Incorporation into the FSA Rules of the AIFMD’s requirements as to organizational matters, duties in relation to management of funds and transparency obligations.
The FSA anticipates publishing a second AIFMD consultation paper in February 2013. A combined policy statement, relating to both consultations, will be published in June 2013. If it considers it practicable, the FSA endeavors to provide information at an earlier date on key issues arising from the consultation, to help affected firms prepare for AIFMD implementation with effect from July 2013.
Responses to the consultation are requested by February 1, 2013.
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National Law Review, Volume II, Number 332