The Alternative Investment Fund Managers Directive (the "Directive") must be implemented by EU Member States by 22 July 2013. The Level 2 implementing measures, which were published by the European Commission last December and which contain further detail on key issues covered by the Directive, are directly applicable in EU Member States from the same date.
Jersey and Guernsey have been proactive in their response to the Directive and each jurisdiction is in the process of preparing the requisite legislation to implement those provisions of the Directive which apply to third countries.
We believe that a number of opportunities are available for AIFMs established in the Channel Islands and that there could be significant advantages in continuing to utilise Channel Island structures. Our new briefing focuses, in particular, on the private placement regime which will be available to non-EU AIFMs from July 2013 to at least 2018.
For further information, please contact Kate Ovenden, Martin Paul, Richard Le Liard or Mark Helyar.
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