Global Registration Services – Market Update Q4 2018

AIFMD

ESMA updated AIFMD Q&As

On 4 October 2018 ESMA updated its Q&As on AIFMD.

It includes a new Q&A which clarifies the application of the AIFMD notification requirements in relation to AIFMs managing umbrella AIFs on a cross border basis.

ESMA updated Table of MoUs

On 30 October 2018 ESMA published an updated Table of AIFMD MoUs signed by the EU authorities.

Brexit

UK Temporary Permissions Regime ("TPR") EEA to be allowed to add new sub-funds following Brexit

As noted in our recent client update HM Treasury on 7 December 2018 published a draft of the Collective Investment Schemes (Amendment) (EU Exit) Regulations 2019. These will allow an EEA Member State which has notified the UK FCA of their intention to enter the UK's TPR prior to 29 March 2019 ("Exit Day") to include a sub-fund in the TPR post Exit Day.