The following Financial Services guidance note provides comprehensive and up to date legal information covering:
BREXIT: The UK is due to leave the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance on the impact of Brexit on AIFMs, see Practice Notes: 10 key steps asset managers and investment funds should be taking to prepare for Brexit and Impact of Brexit: AIFMD—quick guide.
The AIFMD (Directive 2011/61/EU) covers the management, administration and marketing of alternative investment funds (AIFs) across the European Union (EU). AIFMD, as implemented, applies to all EU alternative investment fund managers (AIFMs) that manage one or more AIFs, irrespective of whether those AIFs are EU AIFs or non-EU AIFs. The AIFMD, as implemented, also applies to non-EU AIFMs who manage EU AIFs and (in part) to non EU AIFMs who actively market AIFs in the EU. For general information on the application of AIFMD, and its implementation in the UK, see AIFMD—overview and Practice Note: AIFMD—essentials. For recent and upcoming AIFMD developments, see Alternative Investment Fund Managers Directive (AIFMD)—timeline.
The AIFMD contains (among other things) requirements for establishing remuneration policies to promote sound and effective risk management and to deter unnecessary risk taking. The remuneration principles contained in AIFMD are similar to the those contained in the Capital Requirements Directive IV (Directive 2013/36/EU)
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