FSA consultation affects how EU Directive applies to UK investment managers
16 November 2012
As the FSA launches a two-part consultation to transpose the Alternative Investment Fund Managers directive (AIFMD) into UK law, Deloitte, the business advisory firm, says that the policy positions taken will affect how the directive applies to investment trusts, hedge fund managers and private equity (PE) managers.
Brian Forrester, partner at Deloitte, said:
“This is an important step towards the implementation of the Directive into UK law. The FSA appears to be warning the industry that more managers than previously thought could be caught, however, the regime for smaller firms is still in the hands of the Treasury and we will have to wait until the New Year to hear the outcome. The level 2 regulations have yet to be released and some important clarification will be included within those. The FSA’s view on depositaries for private equity funds will be well received by the PE industry.”
The AIFMD governs how investment firms manage and market alternative investment funds in Europe.
The impact of the key policy positions are:
Note to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
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