ESMA Guidelines and Recommendations

ESMA publishes updated AIFMD Q&A

ESMA Guidelines and Recommendations

Date: 25 November 2016

On 16 November 2016, the European Securities and Markets Authority (ESMA) published an updated questions and answers document (Q&A) on the application of the Alternative Investment Fund Managers Directive (AIFMD).

The Q&A includes two new questions and answers on the cross-border marketing of AIFs, clarifying issues around material changes of existing notifications, as well as two new questions and answers on the delegation of functions by an AIFM to AIFs or third parties.

The purpose of the Q&A document is to promote common supervisory approaches and practices in the application of the AIFMD and its implementing measures.