A delay to AIFM Directive legislative progress should not be seen as a reason to delay preparations for its impact – industry needs to take action now.
The European Commission (EC) has pushed back the response date for the advice from the European Securities and Markets Authority (ESMA) to November 2011. In addition, Switzerland’s Federal Council has urged legislators and regulators to begin preparing for AIFM Directive.
These two recent announcements are timely reminders that the AIFM Directive continues its legislative progress. Alternative asset managers and service providers now need to be analysing its impact on their businesses and start preparing for implementation as they plan for the next few years. So, the two month extension should be regarded as no more than a welcome breather.
In our latest edition of AIFMD news – The lull before the storm, we provide an update on recent events and outline our views on how industry needs to respond in advance of the Directive’s implementation.