Application
The Alternative Investment Fund Managers Directive and its
implementing measures ("AIFMD") introduced new reporting
requirements for:
- "EEA-AIFM", managers established in the European
Economic Area ("EEA"); and
- "non-EEA AIFM", managers not established in the EEA
who market an alternative investment fund (or "AIF") into
the EEA
AIFM that are authorised by the UK Financial Conduct Authority
(or "FCA") are already subject to compulsory reporting,
while non-EEA AIFM become subject to FCA reporting when they
register with the FCA under the UK national private placement
regime (the "UK NPPR").
Non-EU AIFS - Calculating AUM
Small non-EEA AIFM under the UK NPPR report annually
while above-threshold non-EEA AIFM determine their
reporting frequency (the most regular being quarterly) by reference
to their AUM calculated in accordance with the criteria set out at
Chapter 16.18.4 of the FCA Supervision Manual.
