Wed, Aug 31, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Last chance for alternative fund managers to apply for AIFMD authorisation before July 22nd deadline

Tuesday, July 15, 2014
Opalesque Industry Update - Alternative fund managers have just one week to apply for authorisation under the Alternative Investment Fund Managers Directive (AIFMD) as the July 22nd deadline looms, warns Bovill, the specialist financial services regulatory consultancy.

Bovill explains that the deadline for firms to apply has already been pushed back by the Treasury because of pressure from the industry that not enough time was being allowed for firms to apply.

AIFMD introduces new rules on remuneration and reporting for alternative fund managers such as private equity houses and hedge fund managers.

Ashley Kovas, Head of Funds at Bovill says: “This is the last chance for alternative fund managers to file their application with the FCA. Some firms are leaving it until the very last minute.” “This is not just about getting the form filled in and filed with the FCA – fund managers need to be compliant with the rules from Tuesday. The FCA has been quite clear that it expects firms to meet their obligations under AIFMD by Tuesday and it could hold them to account through enforcement action if they fail to do so.”

Meeting new reporting requirements next step for firms

Bovill explains that the next key date for alternative fund managers to plan towards is the start of new reporting obligations, with most firms needing to submit their first reports by January 31 2015.

Bovill explains that firms will have to provide information on a large amount of qualitative and quantitative information, including:

  • The top five instruments that the fund is trading
  • The geographical breakdown of the fund’s investments
  • What their investment strategy is
  • The principal markets that the fund is trading in

Ashley Kovas adds: “As at the end of the year, alternative investment fund managers will have to provide a huge amount of management information. Some managers will not collect this information already so they will have to set up processes from scratch to make sure they meet their obligations. Fund managers we have advised have been surprised at the quantity and type of information that they will need to produce.”

Bovill

Press Release

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. The Big Picture: Water is single largest environmental investment opportunity[more]

    Benedicte Gravrand, Opalesque Geneva: Water, the world’s most precious and undervalued commodity, is set to lead the socially and environmentally responsible investment themes. This is according to specialist fund manager Thomas Schumann. His firm,

  2. Commodities - Hedge funds pile into bullish bets on U.S. crude by most on record, Rig count steady, hedge funds dump short contracts on 63 million barrels, Hedge funds bail on Copper as Goldman predicts ‘supply storm’, Hedge funds pile up bets against sterling[more]

    Hedge funds pile into bullish bets on U.S. crude by most on record From BRecorder.com: Hedge funds and other speculators raised their bullish bets on US crude oil in the past week by the most on record fuelled by speculation that Organization of the Petroleum Exporting Countries will agr

  3. Investing - U.S. hedge fund Marathon makes Brexit bet on European property, Hedge funds love Liberty and John Malone, DE Shaw could bid for control over TerraForm Power, New York hedge fund increases stake in Tronc as sale talks continue, Don't wait too long to check this +20% value fund's ideas[more]

    U.S. hedge fund Marathon makes Brexit bet on European property From FT.com: Marathon, a $13bn US hedge fund, is building a big Brexit trade, increasing its investments in property across Ireland, France, Germany and the Netherlands, in a bet that they will be among the big beneficiaries

  4. Investing - Hedge funds express interest in acquiring Terraform's class B shares, REIFs: A new opportunity for foreign real estate investors, $21bn distressed expert hedge fund likes these 4 ideas, This merger arbitrage ETF is drawing increased interest, Investors look to emerging Asia for returns[more]

    Hedge funds express interest in acquiring Terraform's class B shares From Thecountrycaller.com: The US residential solar provider, Sunedison Inc. has received a bid from hedge fund manager D.E Shaw & Co LP for controlling a stake in its Yieldco TerraForm Power Inc. According to Reuters,

  5. Opalesque Exclusive: Investors struggle to identify the better performing hedge funds[more]

    Komfie Manalo, Opalesque Asia: Fund managers and investors believe that performance is one of the major factors driving change in the hedge fund industry, a Preqin survey showed in its latest Hedge Fund Spotlight. Preqin said that the disappoin