ESMA is consulting on draft technical advice to the European Commission on possible implementing measures of the Alternative Investment Fund Managers Directive (AIFMD) in relation to supervision and third countries. The consultation covers three broad areas:

  • supervisory cooperation and exchange of information;
  • delegation of portfolio or risk management functions to third country entities; and
  • assessment of equivalence of third country depositary frameworks.

Responses to the consultation are requested by 23 September, in order to ensure ESMA can finalise its advice to the European Commission by the deadline of 16 November. (Source: Consultation Paper: ESMA's Draft Technical Advice to the European Commission on Possible Implementing Measures of the AIFMD in relation to Supervision and Third Countries.)