AIFMD COMPLIANCE

AIFMD is the largest overhaul of European regulation since MiFID. The rules came into effect on 22 July 2013, with a transitional period in the UK until 22 July 2014 for existing investment managers.

Firms subject to AIFMD are required to seek authorisation from the FCA to become an Alternative Investment Fund Manager (“AIFM”). Applications must be submitted in order to continue managing Alternative Investment Funds (“AIFs”). For existing investment management firms this will require submitting a Variation of Permission (“VoP”) including a detailed regulatory business plan, appointing a depository, liquidation, risk, leverage and valuation policies. Optima has an expert team well versed in getting firms authorised as an AIFM and has policies and procedures which firms can adopt to ensure they are fully compliant.

From 22 July 2014 at the latest, all firms subject to AIFMD; regardless of whether they have been approved by the FCA, must comply with the relevant AIFMD requirements. Optima is able to support clients by undertaking a gap analysis of a firm’s current compliance infrastructure against AIFMD requirements and highlighting any deficiencies and recommendations. We also provide ongoing monitoring and support to help firms comply with AIFMD on an ongoing basis.