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ARTICLE · 31 AUGUST 2020

AIFMD – Room For Improvement

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On 18 August 2020, ESMA sent a letter to the European Commission setting out suggested improvements to the AIFMD for consideration as part of the Commission's current review of AIFMD.

European UnionFinance and Banking
Nicholas Blake-Knox
Nicholas Blake-Knox
Eimear Keane
Eimear Keane
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On 18 August 2020, the European Securities and Markets Authority ("ESMA") sent a letter to the European Commission (the "Commission") setting out suggested improvements to the Alternative Investment Fund Managers Directive ("AIFMD") for consideration as part of the Commission's current review of AIFMD. While the focus of the letter is on AIFMD, several suggestions also relate to amendments to the Undertakings for Collective Investment in Transferable Securities ("UCITS") framework.

Two annexes to the letter contain the detail of the suggestions being put forward by ESMA. Annex I sets out 19 key issues relating to the legislative framework where ESMA recommends amendments. Annex II sets out suggested amendments to the AIFMD reporting regime and use of data.

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