AIF

FCA Publishes Statement on Reporting Requirements of AIFMs

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On November 4, the FCA published a statement on reporting requirements for managers of AIFs (AIFMs) under the AIFMD.

In certain circumstances, firms already authorized as AIFMs will be required to provide regulatory reports to the FCA in the first quarter of 2014, using the XML v1.0 reporting template, which was published by ESMA in October 2013.

Further details on the reporting mechanism are due to be published on the FCA website in due course.  Statement.

ESMA Publishes Speech on AIFMD and ETF Initiatives

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On November 5, ESMA published a speech given by the Chair of ESMA, Steven Maijoor, at the European Fund and Asset Management Association investment management forum. The speech states that:

  • ESMA has finished its work on memoranda of understanding which relate to the AIFMD, although negotiations continue with several non-EU authorities, including those in South Africa, Russia and China.
  • ESMA is due to start drafting a report on the extension of the AIFMD passport to non-EU AIFs and AIF managers.

ESMA is examining why retail exposure to exchange traded funds (ETFs) is relatively low.  Speech.