MFA Blog: AIFMD Rules Absent in Sixteen European Union Member States

According to an MFA blog post, 16 member states of the EU have not fully implemented the Alternative Investment Fund Managers Directive ("AIFMD"). Austria, Croatia, Cyprus, Denmark, Germany, Ireland, Latvia, Luxembourg, Malta, the Netherlands, Sweden, and the United Kingdom were the only EU Member States that had implemented the AIFMD by the July 22 deadline. The post reports that managers say they are still waiting on guidance from their local authorities. However, the European Securities and Markets Authority advised managers that AIFMD-compliant funds can be sold in any state regardless of the compliance status of the EU Member State.

See: MFA Blog Post.See also: AIMA/EY Survey Finds Mixed Progress towards AIFMD Transposition (July 24, 2013); MFA Submits Comments to ESMA in Response to AIFMD Reporting Guidelines (July 2, 2013); AIMA: Countdown to AIFMD and Upcoming Changes to FATCA (June 20, 2013).