Global Registration Services – Market Update, Q2 2015

AIFMD

Implementation update

Romania

On 14 May 2015, the Romanian transposition of AIFMD, Decree Law no. 74, was published in the Official Gazette.

Slovenia

On 23 May 2015, the Slovenian transposition of AIFMD, the Law on Alternative Investment Fund Manager (ZUAIS), entered into force. The SMA is expected to issue general implementation provisions by 23 February 2016.

ESMA AIFMD reporting Q&A

On 12 May 2015, ESMA published an updated Q&A document on the application of AIFMD. The document includes new questions and answers on reporting and on the calculation of leverage.

Most notable updates include clarification on the following: how AIFMD reporting obligations apply to AIFMs that are sister companies owned by another AIFM; the reporting obligations that apply to a registered AIFM that opts in under AIFMD; whether commitments or actual capital drawdowns should be included in AIFMD reports for AIFs with private equity strategies; the