
Publication
Episode 04: How to successfully implement change in your legal department
Implementing change can be challenging, especially when some people are resistant to new ways of working.
Global | Publication | November 2018
There are two methods which allow the marketing of alternative investment funds (AIFs) in the EU by alternative investment fund managers (AIFMs). The first method is a marketing “passport” which has been introduced by the Alternative Investment Fund Managers Directive (AIFMD) to allow AIFs to be marketed to professional investors across the EU subject to certain conditions being met. The second method allows AIFs to be marketed in a specific member state in accordance with that member state’s private placement regime, subject to certain conditions being met.
We have just updated two guides on the AIFMD, which has now been in force for approximately five years. Both guides, which are now in their fourth iteration, cover 15 EU jurisdictions – Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden and the UK – with input provided by Norton Rose Fulbright lawyers in Europe, as well as correspondent counsel with whom we have close working relationships.
The first guide considers whether the AIFMD marketing passport is working in practice and is a useful tool for managers as it illustrates the significant differences across jurisdictions.
The second guide looks at the requirements that non-EEA managers face when marketing non-EEA alternative investment funds to professional EEA investors.
To access the guides, please register for our Asset Management Regulation hub on our NRF Institute site. Once registered, you will have access to all our thought leadership and insights available on the hub, as well as our other cross-border guides and knowledge hubs.
Publication
Implementing change can be challenging, especially when some people are resistant to new ways of working.
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On June 22, 2022 the Financial Reporting Council (FRC) published a consultation document seeking views on publicly available audit quality indicators (AQIs) to drive audit quality improvements.
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A number of enforcement actions taken by regulators around the world have been a reminder for financial institutions that board involvement in, and appropriate oversight of, anti-money laundering/countering the financing of terrorism (AML/CFT) compliance programmes is critical.
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