The Alternative Investment Fund Managers Directive (AIFMD) will come into force on 22 July 2013. Many firms have started preparing for AIFMD, but are assuming there will be a 12-month transitional period from AIFMD's implementation and that they will not need to be fully AIFMD-compliant before the end of that period.
However, UK firms that manage or market alternative investment funds (AIFs) in the European Economic Area (EEA) may need authorisation and passports on 22 July 2013. We do not know how EEA jurisdictions will behave with regard to AIFMs from other EEA states. It may be that some EEA jurisdictions will allow firms from other EEA states to carry out the AIFMs' management and marketing activities in their jurisdictions without a passport for a limited period; but this is not certain. It may be that passports will be required from 22 July 2013.
The Financial Services Authority (FSA) wants to know which UK firms may need authorisation by 22 July 2013. More generally, the FSA also wants to understand the likely numbers and types of AIFMD applications that it can expect from 22 July 2013.
The FSA has therefore launched The UK AIFM Survey.
The survey period closes on 28 March 2013.
Will your firm be affected by AIFMD? If so, you should consider completing the survey to help the FSA understand the likely pattern of applications.
If your firm currently manages or markets AIFs in the EEA and/or if it intends to do so on and immediately after 22 July 2013 then it is recommended that you complete the survey. Responses will enable the FSA to consider what steps should be taken so that your business can continue to operate without disruption.