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Alternative Market Briefing

AIFMD’s remuneration guidelines will impact Swiss domiciled fund managers too

Wednesday, February 27, 2013

Benedicte Gravrand, Opalesque Geneva: - The European Securities and Markets Authority (ESMA) published the final Guidelines on remuneration of alternative investment fund managers (AIFMs) earlier this month. The rules will apply to managers of alternative investment funds (AIFs) including hedge funds, private equity funds and real estate funds. According to ESMA, AIFMs will be asked to introduce sound and prudent remuneration policies and organisational structures which avoid conflicts of interest that may lead to excessive risk taking. It is believed that stronger governance of how fund managers are paid will ultimately lead to improved investor protection.

The guidelines will be translated into the EU’s various languages and published on ESMA’s website. Within two months of the publication, competent authorities should confirm to ESMA whether they comply or intend to comply with the guidelines by incorporating them into their supervisory practices.

SEI, a financial solutions provider, and AIMA, the hedge fund industry association, recently declared that the new rules and application guidelines of the AIFM Directive remuneration requirements could have substantial impacts on the operating models of hedge funds and UCITS operating in Europe (full ......................

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