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ARTICLE · 23 APRIL 2014

ESMA Draws Up Proposed AIFMD Passport Questions For Regulators

Chevalier & Sciales
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The European Securities and Markets Authority has issued on March 26 technical advice regarding information that must be provided by national regulators on the functioning of the Alternative Investment Fund Managers Directive as a precursor to the potential extension of the AIFMD passport to non-EU managers and funds after July next year.

LuxembourgFinance and Banking
Olivier Sciales
Olivier Sciales
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The European Securities and Markets Authority has issued on March 26 technical advice regarding information that must be provided by national regulators on the functioning of the Alternative Investment Fund Managers Directive as a precursor to the potential extension of the AIFMD passport to non-EU managers and funds after July next year.

ESMA has drawn up the report in response to a request from the European Commission on December 20 last year for advice on the possible content of its delegated act required under Article 67(5) of the AIFMD on the information regulators must provide quarterly to ESMA, and was delivered a month ahead of the Commission's deadline of April 30.

The information to be provided by the national regulators will enable ESMA to advise the Commission on the planned opening up of the passporting system, which will become possible two years after the directive took effect on July 22, 2013 – the date from which, according to the directive, the

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