Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
As the Alternative Investment Fund Managers Directive (AIFMD) moves ever-closer, Jonathan Wilson, Director of Project Consulting at Cordium UK, addresses the personal position of managers leading up to the transposition into domestic legislation.
How can fund managers/firms prepare?
If you decide that you are in scope of AIFMD, then it should be recognised that this will be a significant project which will require proper governance and control within the organisation with steering from the top. A proper plan around all the areas considered in the checklist below needs to be established. This is not a simple compliance issue. Firms should be asking themselves how their business model can change from being a manager of offshore funds to an EU-based AIFM with depositories and more formal responsibilities regarding risk.
I would encourage firms to appreciate that there is a lot of work that can be done now to prepare. The Financial Conduct Authority (FCA) has published its forms for authorisations, so drafting work can begin straight away--the forms explain clearly most of the steps that need to be taken at this stage. One thing I can guarantee is there will be some bottlenecking or clustering of applications--I saw this from the Dodd-Frank process. This might come from the delays at the FCA itself, and you don't want to be in that queue. My advice is to get preparing now so you control the timing of your application, rather than being forced into it by the deadline.
What needs to be done? What questions need to be asked? Here are 8 things to get going:
1. Review whether you in the scope of AIFMD
2. Consider your timing for application
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234