AIMA/EY Survey Finds Mixed Progress towards AIFMD Transposition

The Alternative Investment Management Association ("AIMA") released a statement on the findings from a joint AIMA and Ernst & Young survey on the progress towards implementation of the AIFMD. The results indicate that uneven progress is being made on implementing the AIFMD across the European Union. Although a majority of the 27 EU member states have transposed the AIFMD into law or drafted a final legislation awaiting parliamentary approval, the survey showed only 12 Member states have completed full legislation, and at least five member states have made little or no progress. Additionally, at least 15 member states are allowing managers more time to comply with the directive. The findings are part of a wider AIMA/EY survey that evaluates different approaches to private placement rules, reporting timeframes, and remuneration requirements. The full survey results will be available in September 2013.

See: AIMA Press Release.