• ESMA Issues Draft Technical Advice on Implementing Measures for the Alternative Investment Fund Managers Directive (“AIFMD”)
  • August 4, 2011
  • Law Firm: Kaye Scholer LLP - New York Office
  • After the hiatus that followed the agreeing of a text of the AIFMD in autumn 2010, the pace of events has recently quickened. The official text of the AIFMD was published in the Official Journal of the European Union on 1 July 2011, and this has clarified that Member States have until 22 July 2013 to implement the AIFMD in their own domestic legislation. And on 13 July 2011, the European Securities and Markets Authority (“ESMA”) issued a consultation paper setting out ESMA’s proposals for possible implementing measures for the AIFMD. Responses to the 72 questions raised by ESMA are required by 13 September 2011.