Monthly Archives: March 2013

FSA AIFMD survey targeted at UK alternative investment managers

The FSA seeks responses from UK alternative investment management firms to a survey. The survey aims to identify the likely timings of applications from firms to vary their existing permissions to become an ‘AIFM’ over the course of the AIFMD transitional year (July 2013 to July 2014). This is a great opportunity for firms that are concerned about the prospect of their business being disrupted (largely because they may not be able to market their hedge funds to EU investors) as a result of not being authorised under AIFMD by its effective date 22 July 2013. The FSA also states it intends to publish its second, and widely anticipated, AIFMD consultation paper on 14 March 2013.

Click here to visit the FSA website

EU Council clears way for AIFMD

The EU Council has confirmed that it has no objection to the delegated Alternative Investment Fund Managers Directive ‘Level 2 Regulation’ which was adopted in December last year.  Despite 12 regulators expressing their displeasure with the way in which the legislation has been introduced, no formal objections were received. Unless the European Parliament itself objects, the Level 2 Regulation will enter into force, as widely expected, on 22 July 2013.

Click here to read the EU Council statement 

2013 Hedge Fund Cloud Summit

Bill Prew of INDOS Financial will appear as a speaker at the 2013 Hedge Fund Cloud Summit. This inaugural event, hosted by Eze Castle Integration in London on 19th March 2013, will focus on the drivers, obstacles and challenges to adoption of the IT cloud in the alternative asset management industry. Bill Prew will speak alongside other industry experts about his practical experience implementing cloud technology and the considerations for hedge fund managers in this fast evolving space.

Click here to find out more

 

Depositary-lite: Simple as the theory sounds?

When most people think of depositaries in the context of AIFMD they think about the strict liability these firms will take on for the loss of financial assets. But this only applies to EU alternative investment fund managers (AIFM) managing EU alternative investment funds. In this article Bill Prew discusses the reduced depositary requirements which apply to the much larger number of EU AIFMs, managing non EU AIFs that are marketed to EU investors, and in particular why the so called ‘depositary-lite’ model might not be as simple as it sounds.

 

AIFMD-Depo-Lite