The FCA has updated its news web page on the Alternative Investment Fund Managers Directive (AIFMD). The FCA has posted a update concerning article 6(4) of the AIFMD (the so-called MiFID services).
The FCA explains that EU negotiations on the proposed revision of the Markets in Financial Instruments Directive led to an agreement to introduce an amendment to article 33 AIFMD. The amendment will make it explicit that the right to passport an alternative investment fund manager’s (AIFM) services in other Member States extends to any services under article 6(4) which it is authorised by its home Member State to provide. Article 33 AIFMD provides the mechanism for the AIFM to avail of the passport by requesting its home Member State regulator to issue a notification to the relevant host Member State regulator to that effect.
View AIFMD latest news – update on article 6(4) AIFMD, 12 February 2014