Gibraltar Transposes AIFMD

by Phillip Morton, Investors Offshore.com

17 July 2013

Albert Isola, minister with responsibility for Gibraltar's Financial Services, has signed regulations that transpose the European Union Alternative Investment Fund Managers Directive (AIFMD) into Gibraltar law. The commencement date for this legislation is July 22, 2013.

The rationale for this Directive is to establish commonality in the requirements that govern the authorization and supervision of AIFM’s within the EU. AIFMD is a new regulation, affecting investment managers, particularly those within the EU but also those that are external to the EU and who wish to market their funds within the EU. It determines how such investment managers can conduct their marketing activity.

Albert Isola commented, “This legislation provides Gibraltar with an excellent opportunity and competitive advantage which should provide for further growth in this key area of our financial services industry.”

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