FSA publishes Discussion Paper on implementation of the Alternative Investment Fund Managers Directive
The Alternative Investment Fund Managers Directive ("AIFMD"), adopted on 8 June 2011, will have to be transposed in national legislation by EU Member States by 22 July 2013. This gives Member States approximately 18 months to prepare.
The Financial Services Authority ("FSA") launched its policy process to achieve transposition with the publication of a Discussion Paper on 23 January 2012 on the implementation of the AIFMD in the UK. The Discussion Paper enables the FSA to canvass industry views at an early stage to inform its regulatory approach to AIFMD transposition. At the same time, it presents an opportunity for the industry to engage with the FSA and to influence its thinking.