On 19 July 2016, ESMA published an updated version of its Q&A paper on the application of the AIFMD. The Q&As have been amended to include a new Q&A relating to the impact of EMIR (the Regulation on OTC derivative transactions, central counterparties (CCPs) and trade repositories (Regulation 648/2012)) on the AIFMD framework, regarding the valuation of centrally cleared OTC derivatives.