Wed, May 4, 2016
A A A
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 Final rules will not be published until June but the FSA's successor, the Financial Conduct Authority, is meant to confirm some of its final policy positions before then to give firms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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n