AIFMD

Recent Articles

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  25/05/2022

  Draft report on the Commission’s proposal to amend the AIFMD: key changes

  2. Key highlights (a) Inclusion of a new sub-category of “professional investors” The Report suggests that the term “professional investors” should no longer exclusively correspond to the definition given to such term in Annex II of the Directive 2014/65/EC (MiFID II) and should instead also capture two additional types of investors, namely those: i. who have committed to investing a minimum of EUR 100 000 and have stated in writing, in a separate document from the contract to be concluded for the commitment to invest, that they are aware of the risks associated with the...

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  20/01/2021

  ESMA observes questionable reverse solicitation practices after Brexit

  The European Securities and Markets Authority (ESMA) has issued a statement to remind firms of the rules on reverse solicitation under MiFID II. It says, that since the end of the UK transition period on 31 December 2020, some firms appear to be trying to circumvent MiFID II requirements and questionable reverse solicitation practices have emerged. These practices include using general clauses in Terms of Business or online pop-up “I agree” boxes, whereby clients state that any transaction is executed on the exclusive initiative of the client. In ESMA’s view, these practices...

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  22/06/2020

  ESMA consults on new rules for Cloud arrangements

  BackgroundThe CP sets requirements and expectations for alternative investment fund managers (“AIFMs”) and depositaries of alternative investment funds, undertakings for collective investment in transferable securities (“UCITS”), management companies and depositaries of UCITS, investment firms and a number of other types of firm (“firms”) when outsourcing to the cloud.It follows in the wake of recent final guidelines published by the EBA on outsourcing and a similar consultation from EIOPA on cloud arrangements. Cloud outsourcing is viewed as raising particular...

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  13/11/2019

  Update to CMS Passporting Guides

  CMS Guide to Passporting: Rules on Marketing Alternative Investment Funds in Europe The EU Commission promoted passporting rights as one of the key benefits for hedge, private equity, real estate and other alternative investment fund managers authorised under the Alternative Investment Fund Managers Directive (“AIFMD”). However, we are now experiencing impediments to the passporting rights as certain domestic regulators are imposing ‘border controls’, and fund managers need to pay fees and comply with various other requirements in order to market their funds cross-border....

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  08/10/2018

  CMS Introduction to funds training

  Please click here to view or download our brochure, which has full details of the training programme. If you would like to arrange a training programme, please get in touch. Our contact details are below.

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  11/04/2018

  Securitisation Regulation: 60 minutes to understand the new rules and issues

  CMS cordially invite you to attend a webinar: 11 April 2018 | 10:00 UK/ 11:00 CET Securitisation Regulation: 60 minutes to understand the new rules and issues This webinar will last one hour (including a Q&A session) and will provide an update on new EU regulations regarding securitisation. Four expert speakers from the UK, France and Spain will cover the areas you need to be aware of. Agenda: Scope of the new regulations (STS and CRR treatment) New rules applicable to any EU securitisation STS CRR/other directive changes REGISTER NOW

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