Date: 5th October 2016
Author:
Type: In the news
The European Securities and Markets Authority (ESMA) has recently decided to extend the Alternative Investment Fund Managers Directive (AIFMD) to some countries outside the EU. The decision to extend the passport to countries like Switzerland and Jersey was welcomed by many, and the calls for ESMA to do more resulted in the authority’s decision to asses other non-EU countries, like Cayman Islands and Australia and to reassess the US, Hong Kong and Singapore.
However, ESMA is delaying the decision on the extension of the passport to the US until the concern that US will receive preferential treatment in the EU compared to how EU funds are treated in the US will be addressed.
Read the full article here.