We have produced two new guides concerning the Alternative Investment Fund Managers Directive (AIFMD).
Both guides cover 15 EU jurisdictions – Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden and the UK.
The first guide considers whether the AIFMD marketing passport is working in practice. The passport was meant to encourage fund managers to bring their fund structures within the EEA to benefit from a harmonised distribution market, but discrepancies between Member States in implementing the passport system have resulted in confusion for managers expecting to benefit from a single entry point into the EEA. The guide is a useful tool for managers as it illustrates the significant differences across jurisdictions.
The second guide looks at the requirements that non-EEA managers face when marketing non-EEA alternative investment funds to professional EEA investors. The guide reveals a number of discrepancies across Member States and will help managers navigate the requirements.
Input into both guides has been provided by Norton Rose Fulbright lawyers in Europe as well as correspondent lawyers.
If you would like to receive a copy of the guides please contact me.