Transposition of the Alternative Investment Fund Managers Directive: Further consultation

The Alternative Investment Fund Managers Directive is due to be transposed into national law by 22 July 2013. The Directive will have a significant impact on firms that run any type of fund other than those authorised under UCITS and provides a number of opportunities and obligations for those firms. The Government published its first consultation paper on 11 January 2013 and this closed at the end of February. This consultation paper, issued on 13 March 2013, considers a number of issues that could not be addressed at that time. The Financial Services Authority (FSA) is also separately consulting on the rules required as part of the transposition. This is a short consultation, reflecting the limited number of issues addressed and the strong need expressed by industry for certainty over the final regulations.