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ARTICLE · 15 FEBRUARY 2013

AIFMD: ESMA Issues Finalised Remuneration Guidelines

The European Securities and Markets Authority has published its final guidelines on the remuneration of alternative investment fund managers.

IrelandCorporate/Commercial Law

The European Securities and Markets Authority ("ESMA") has published final guidelines (the "Guidelines") on remuneration of alternative investment fund managers ("AIFM").  The publication of the Guidelines follows a consultation on draft remuneration guidelines which closed in September 2012.  The Alternative Investment Fund Managers Directive ("AIFMD") establishes a set of rules that AIFMs must comply with when establishing and applying a remuneration policy for certain categories of their staff and the Guidelines are intended to further clarify the AIFMD provisions.

Which entities / individuals are affected?

The remuneration provisions in the AIFMD apply to all AIFM that fall within its scope.  The Guidelines will apply to identified staff whose professional activities might have a material impact on the profile of the alternative investment fund ("AIF").  This includes:

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