HM Treasury has published its response to the AIFMD consultation which closed in February. Revised AIFMD regulations accompany the announcement. At a high level, the documents contain some welcome developments (below) but concern remains about gold plating of the so-called ‘depositary-lite’ requirements for EU AIFM marketing non-EU AIF to EU investors.
- HM Treasury no longer plan to impose additional requirement on sub-threshold managers.
- EU AIFM seeking to market offshore funds to UK investors will just need to notify the FCA rather than seek its approval before marketing.
- Confirmation that third-country, non-EU AIFM will be able to take advantage of the 1 year transitional rules when marketing to UK investors.
A separate article covering the amended regulations, including comments from INDOS Financial’s Bill Prew, was published by Hedge Compliance. Click here to read the article (you will need to be registered)