EC adopts ‘Delegated Regulation’ to boost AIFMD
The European Commission has announced the adoption of a Delegated Regulation intended to supplement the AIFMD.
“The Delegated Regulation is a precondition for the application of the AIFMD in EU countries and was adopted to supplement certain elements of the AIFMD,” the EC said in a statement.
“These rules concern the:
– conditions and procedure for the determination and authorisation of AIFMs, including the capital requirements applicable to AIFMs;
– operating conditions for AIFMs, including rules on remuneration, conflicts of interest, risk management, liquidity management, investment in securitisation positions, organisational requirements, rules on valuation;
– conditions for delegation;
– rules on depositaries, including the depositary’s tasks and liability;
– reporting requirements and leverage calculation;
– rules for cooperation arrangements.”
The Regulation is subject to a three-month scrutiny period by the European Parliament and Council, at which point it will enter into force if no objections are raised.
Click here to read the full text of the Regulation: http://ec.europa.eu/internal_market/investment/docs/20121219-directive/delegated-act_en.pdf