Financial Services partner Neil Robson was quoted in an article on how Luxembourg, Germany and the Netherlands are gold-plating Alternative Investment Fund Managers Directive (AIFMD) rules by mandating that EU and non-EU alternative investment fund managers (AIFM) who market in their jurisdictions automatically submit annual reports to the local regulator. Article 24(3) of the AIFMD states that annual reports only have to be made available to a local regulator "on request," and that the majority of EU and UK regulators do not require the automatic submission of annual reports. "The general view in the UK is that it means make available upon request," Neil told HFMWeek. This move from Luxembourg and the Netherlands is particularly concerning "as these are countries where a large number of AIFMs have filed for marketing," Neil added. ("Exclusive: Key EU Member States Gold-Plate AIFMD Annual Report Rules," June 26, 2015)
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