AIFMD Consulting and Support Services for Investment Advisers

AIFMD Consulting and Support Services for Investment Advisers

The Alternative Investment Fund Manager Directive (AIFMD or the Directive) brought with it registration obligations, as well as new documentation and reporting requirements for alternative asset managers. The Directive not only impacts EEA-based investment managers of alternative investment funds, but also non-EEA advisers who wish to market such funds into the EEA.

HOW ACA CAN HELP

 

EEA Marketing Assistance for Non-EU Managers

Registrations

The way in which firms market alternative investment funds (AIFs) across the EEA is expected to change significantly over the coming years. Until the AIFMD marketing passport becomes available for non-EU managers or AIFMs of non-EEA funds, such firms must continue to rely on the National Private Placement Regimes in each EEA state in which they intend to market their AIFs. To make use of such regimes in any member state, AIFMs must notify and seek approval from the relevant National Competent Authority (NCA) of their intention to market, prior to marketing taking place.

ACA can assist with:

  • Notifications to the FCA as the UK’s NCA
  • Identifying local counsel familiar with the registration process in other EEA states
  • Drafting documentation, policies, procedures and controls
  • Training marketing personnel on the Directive's requirements
  • Establishing AIFMD compliance monitoring over fund marketing activities

Documentation AIFMD Gap Analysis

Although non‐EEA-based fund advisers will not be required to seek authorisation until a future date to be determined, these firms will still need to comply with some of the provisions of AIFMD if they wish to market into the EEA.

ACA can undertake an AIFMD gap analysis of documents and reporting controls of a non-EEA-based fund manager to compare current disclosures with those required under the Directive’s pre-investment and periodic disclosure requirements, as well as annual fund reporting requirements.

Our initial work on the gap analysis will focus on the following documents:

  • Current fund offering documents
  • Due diligence questionnaires
  • Marketing materials, across all media
  • Monthly portfolio summaries and other investor communications
  • The fund’s annual financial statements and supporting notes

Once we have completed our review, we will work with you to address any gaps that have been identified, including drafting new text for non‐legal documentation as well as introducing practical AIFMD‐compliant procedures and controls to meet the requirements.

ONGOING REPORTING ACA TECHNOLOGY

 

ACA Technology’s ACA Regulatory Reporting platform (ACA RR) offers firm-wide regulatory reporting services that cover:

  • AIFMD’s Annex IV reporting
  • SEC’s Form PF and 13F
  • CFTC’s CPO-PQR

ACA’s Annex IV reporting offering is fully supported by our dedicated team of specialised compliance consultants and experienced technology and operations professionals. Our technology offering is designed and developed with the user in mind and has been successfully used by firms of all sizes.

Our solution typically consists of a software implementation on your own systems, or with your IT provider, that will create a centralised database drawing from your pre-existing data sources that will both manage and collate the information required for reporting. Having compiled the data for the reports, the system will then generate the report in the required XML format and allow for submission to the appropriate NCA(s).

REQUEST MORE INFORMATION

 

To request more information on ACA’s compliance services, complete our contact form or call Ron Weekes at +44 (0) 207 042 0500.