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ARTICLE · 13 FEBRUARY 2013

New Agreement Between EU And Brazil For Funds

Mason Hayes & Curran LLP
Mason Hayes & Curran LLP
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Mason Hayes & Curran LLP

Mason Hayes & Curran LLP

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The Alternative Investment Fund Managers Directive will come into force later this year in the European Union.

European UnionFinance and Banking

The Alternative Investment Fund Managers Directive will come into force later this year in the European Union (EU). This will regulate alternative investment fund managers (AIFMs) within the EU and provide for a new pan-European "passport" for compliant alternative investment funds (AIFs), including hedge funds, private equity and real estate funds.

The European Securities and Markets Authority (ESMA) annnounced on 16 January 2013 that it has approved co-operation arrangements between the Brazilian Comissão de Valores Mobiliários (CVM) and all 27 of the EU securities regulators for the supervision of alternative investment funds. This co-operation will apply to Brazilian AIFMs that manage or market AIFs in the EU and to EU AIFMs that manage or market AIFs in Brazil.

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