Alternative Investment Funds (AIFs)
Rules and best practice in relation to Alternative Investment Funds (AIFs) and Alternative Investment Fund Managers (AIFMs), including the Alternative Investment Fund Managers Directive (AIFMD) and delegated regulations, and marketing and cross-border distribution of funds.
The IPEV Board has started the 2021 review process for the IPEV Valuation Guidelines.Valuation
The Danish FSA has assessed the quality of 4 pension companies and eight credit institutions' website disclosures with regards to information about their policies on the integration of sustainability risks in the investment decision-making process.AIFMDComplianceDisclosure RequirementsSustainability
The European Commission has once again delayed the application of the level 2 obligations of the Sustainable Finance Disclosure Regulation (SFDR) until January 2023.AIFMDComplianceDisclosure RequirementsSustainability
The EU Commission Contemplates Amendments to the Criteria Required to Qualify as a Professional Investor
The EU Commission has, as part of its strategy for retail investors, completed a consultation process that, among others, invited the industry to share its views on the existing professional investor categorization, including the introduction of a new category of professional investors, in MiFID II.Marketing
ESA Publishes Joint Supervisory Statement on the Interpretation on Fund Managers’ ESG Disclosure Obligations
From 10 March 2021, fund managers are required to make certain ESG disclosures available on their website and in their pre-contractual disclosures to investors.AIFMDComplianceDisclosure RequirementsSustainability
ESMA has launched a consultation on guidelines on marketing communications under the cross border distribution of funds regulation.AIFMD
EU and non-EU AIFMs submitting an application for marketing of non-EU AIFs to professional investors in Denmark will be subject to new requirements. The Danish FSA has issued a new Executive Order, which enters into force on 1 January 2021.AIFMD
On 22 October 2020, the European Commission published its consultation on the review of the AIFMD seeking the views from stakeholders on how to achieve a more effective and efficient functioning of the European AIF market.AIFMDAIFMD review
On 19 October 2020, the European Commission launched a public consultation on the European Long Term Investment Fund (“ELTIF”) legal framework.AIFMDAIFMD review
On 19 August 2020, ESMA published a letter to the Commission, outlining areas it should consider during the forthcoming review of the AIFMD.AIFMDAIFMD reviewESMA
To help fund managers address the consequences of the COVID-19 pandemic in portfolio company valuations, the International Private Equity & Venture Capital Valuation Guidelines Board has published special valuation guidance for estimating fair value.covid19Valuation
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