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US Fund Managers – The Latest AIFMD News
3 August 2015
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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.
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