Wed, Oct 1, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Appleby updates on current state of co-operation agreements between the EU and third country regulators on AIFMD

Tuesday, June 04, 2013

Beverly Chandler, Opalesque London: Offshore financial services law firm, Appleby has published a note regarding the EU’s AIFMD legislation and the co-operation agreements with the regulators of third countries, outside of the EU.

With AIFMD due to be implemented across Europe by 22 July 2013, the European Securities and Markets Authority (ESMA) has already approved co-operation agreements between EU securities regulators (and authorities from Croatia, Iceland, Liechtenstein and Norway) and 34 of their global counterparts including:

  • Bermuda, where Appleby describes the co-operation agreement with the Bermuda Monetary Authority as an extremely good development for Bermuda, 'and shows the continued pro-activity of the Bermuda regulator and its willingness to engage the private sector in meeting the demands of industry'.

  • British Virgin Islands

  • Cayman Islands: here, Appleby writes: "In order that the Cayman Islands Monetary Authority has the necessary powers to meet its obligations under the co-operation agreements, The Monetary Authority Law of the Cayman Islands was amended by The Monetary Authority (Amendment) Law 2013, permitting the Cayman Islands Monetary Authority to enter into memoranda of understanding in relation to cross-border supervision; to allow overseas regulatory authorities to carry out on-site inspections; to apply to the Grand Court of the Cayman Islands for orders to ......................

    To view our full article Click here

Banner

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. Socially responsible investments grow in demand, but performance questions persist[more]

    Komfie Manalo, Opalesque Asia: A study by financial services firm TIAA-CREF showed that interest in socially responsible investing (SRI) is increasing rapidly, but investors are still asking if investing in an SRI strategy

  2. Regulatory - Ireland launches structure for passporting loan origination funds within EU[more]

    From Asiaasset.com: The Irish Funds Industry Association (IFIA) has introduced new loan origination capabilities that will offer Asian managers and investors a new structure under the European Union’s (EU’s) Alternative Investment Fund Managers Directive (AIFMD). The new structure will allow the mar

  3. Europe - Ed Miliband's war on hedge funds could damage City of London[more]

    From Telegraph.co.uk: Ed Miliband’s plans to wage war on hedge funds could be potentially more damaging to the City of London than even the financial transaction tax (FTT), senior banking sources warned on Tuesday night. The Leader of the Opposition took aim at a number of industries as part of his

  4. News Briefs - SEC probes Pimco ETF over pricing irregularities, BEPs: Action plan released and UK first to adopt country-by-country reporting[more]

    SEC probes Pimco ETF over pricing irregularities The Securities and Exchange Commission is investigating Pimco’s pricing of exchange traded funds, the latest cloud to hang over the world’s largest bond manager, which has been dogged by poor performance and management infighting. Pimco on

  5. CalPERS’ move might alter hedge fund fees for good[more]

    Benedicte Gravrand, Opalesque Geneva: When CalPERS, the California Public Employees’ Retirement System, announced on September 15th that it was unwinding its hedge-fund portfolio, it was seen by many as is a significant blow to the sector’s appeal. The Fund is