ESMA is aware that several Member States have not implemented the Alternative Investment Fund Managers Directive (AIFMD) by the 22 July deadline. It says this should not be allowed to cause problems for fund managers from compliant jurisdictions. Accordingly, it says fund managers from jurisdictions which have implemented the AIFMD should be able to use their management and marketing passports when they make the required notifications regardless of whether the relevant host state has implemented the relevant provisions. (Source: ESMA Deals With Late AIFMD Transposition)