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Flashnews: AIFMD Review: the process is ongoing

23/09/2020

The process of the AIFMD review started on 10 January 2019 with the publication by the European Commission of KPMG report* on AIFMD.

Then, on 10 June 2020 the Commission issued its own report to the European Parliament and the Council on the application and scope of the AIFMD.

And on 18 August 2020 ESMA sent a letter to the Commission to recommend topics to include in this AIFMD review, here are some examples of topics addressed in those recommendations:

  • Harmonisation of AIFMD and UCITSregimes
  • Clarifications on delegation and substance (extent of delegation, applicable regime in case of delegation) and on the application of the proportionality principles in remuneration
  • Improvement of the existing AIFMD reporting, with notably the incorporation of ESG data.
Next steps for the AIFMD review:
  • A consultation from the Commission will be issued this Autumn 2020 
  • And then a legislative proposal amending AIFMD is expected in the course of 2021.

* https://ec.europa.eu/info/publications/190110-aifmd-operation-report_en

 

Useful links:

03 September 2020 : Article The settlement disciplines regime (CSDR): Destination 2022
26 August 2020: Article The settlement disciplines regime (CSDR): A likely short-lived date
28 July 2020: Article CSDR: Could the implementation of the future settlement discipline regime be pushed back by a year?
03 July 2020: Podcast CSDR: Get ready
05 March 2020: Article CSDR: The future settlement discipline regime

Marie Claire de Saint Exupéry Senior Advisor Public Affairs SGSS
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