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Major changes on AIFMD deadline

Thursday, December 19, 2013
Opalesque Industry Update - Important concessions by The Treasury in relation to the Alternative Investment Fund Managers Directive (AIFMD) have been announced today, says Bovill, the specialist financial services regulatory consultancy.

Deadlines surrounding AIFMD will be relaxed, following concerns by the financial services sector that many fund managers would need to shut up shop if they did not file their AIFMD application by January 22nd.

The concession announced today will mean that if an AIFM’s application for authorisation or registration is filed after January 22nd they can still trade. However, the July 22nd deadline for authorisation or registration still remains in place.

Ben Blackett-Ord, Chief Executive at Bovill, says: “This is good news as there was very real risk of firms missing the January deadline. It’s good to see The Treasury continuing to take a pragmatic approach on AIFMD.”

“However, given that all AIFMS will need to comply fully with the requirements by 22nd July, whether or not their application has been determined, firms should not interpret this as a reason to take their foot off the gas in relation to AIFMD preparedness and should still aim to have applications submitted by the January deadline.”

Bovill

Press Release

BM

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