US Fund Managers – The Latest AIFMD News
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- On Thursday, the European regulator (ESMA) published its advice on the application of the AIFMD passport to non-European fund managers.
- ESMA’s advice considers 6 non-European jurisdictions – Guernsey, Hong Kong, Jersey, Switzerland, Singapore and the United States – with no timeline or process for when the remaining 16 non-European jurisdictions (including the Cayman Islands) will be considered.
- The United States ‘failed’ the ESMA assessment and ESMA has recommended that the AIFMD passport currently should not be extended to U.S. fund managers.