Global Registration Services – Market Update, Q2 2017

AIFMD

ESMA Q&A on AIFMD

On 24 May 2017, the European Securities and Markets Authority ("ESMA") published an updated Q&A on the application of AIFMD and its implementing measures.  The Q&A contains three new questions which clarify issues relating to the following:

(a) Annex IV Reporting: how AIFMs should report information on the breakdown between retail and professional investors when this information is not available;

(b) AIF Management Passport: where an AIFM intends to manage AIFs domiciled in another EU Member State by way of the AIF management passport, the information it must provide on those AIFs in its programme of operations; and

(c) EMIR: whether an AIF can make use of the exemption for intragroup transactions under Article 4(2) of EMIR where it is subject to the clearing obligation in Article 4(1) of EMIR.