Sat, Nov 28, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

S J Berwin comments on UK FSA second consultation paper on AIFMD

Wednesday, March 27, 2013

Beverly Chandler, Opalesque London: S J Berwin has published a note on the UK Financial Services Authority's second consultation paper on implementing the Alternative Investment Fund Managers Directive in the UK.

The firm writes that market participants have until 10 May 2013 to comment on the issues raised in this paper. Final rules will not be published until June but the FSA's successor, the Financial Conduct Authority, is meant to confirm some of its final policy positions before then to give firms marginally more time to factor these into their implementation plans.

The key policy question on which confirmation is awaited is on whether the FCA will accept AIFM and depositary authorisation or variation applications before 22 July 2013. To ensure a positive outcome on this issue it is important that firms respond to the questions raised in the recently published FSA survey by 28 March 2013. The period for response to a similar enquiry addressed to depositaries has already expired (on 21 March 2013). Any firm considering seeking authorisation as a depositary should contact the FSA urgently even though it is out of time according to the FSA letter.

Some of the key issues in this consultation paper worth noting, the firm writes, are:

Scope of the Directive

The most interesting material in the consultation paper comes at the end in the form of draft FCA perimeter guid......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: Hedge fund marketing and the selling cycle[more]

    By Bruce Frumerman. How long is the selling cycle now? That’s a question my financial communications and sales marketing consulting firm has been asked on a regular basis by hedge fund firm owners and sales people, ever since we opened the doors to our firm in 1987 pre-crash. Wa

  2. People - Solus Alternative Asset Management adds chief strategist from BTIG[more]

    From Daniel Greenhaus joined hedge fund manager Solus Alternative Asset Management as managing director and chief strategist. He will work closely with Chris Bondy, Solus’ chief economist, managing director and executive vice president, said Chris Pucillo, CEO and chief investmen

  3. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the

  4. Opalesque Roundtable: Family offices flock to co-investment[more]

    Bailey McCann, Opalesque New York: Co-investments have been a hot topic for pension funds in recent years, as they try to move away from high fees and improve transparency. But now, family offices are more readily getting into the mix and establishing in-house deal teams, according to the delega

  5. More institutional investors invest in CTAs compared to last year despite dissatisfaction with performance[more]

    Benedicte Gravrand, Opalesque Geneva: "Despite a strong start to 2015 for CTAs in Q1, commodity market conditions have made return generation difficult for fund managers over much of the rest of the year to date," says Preqin’s November