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In a recent communication published by the Financial Conduct Authority ("FCA"), the FCA requested that UK Alternative Investment Fund Managers ("AIFMs") seeking authorisation or a variation of permission under the Alternative Investment Fund Managers Directive, submit their application no later than 22 January 2014 in order to allow the FCA sufficient time to review the application prior to the 22 July 2014 deadline, which marks the end of the transitional period.