The UK Financial Services Authority (FSA) has recently published online a survey for UK alternative investment fund (AIF) managers intending to seek authorisation from the UK Financial Conduct Authority (FCA) under the Alternative Investment Fund Managers Directive (AIFMD).
The FSA and HM Treasury are keen to ensure that UK-based fund managers that manage AIFs can continue doing business with minimal disruption when the AIFMD is implemented 22 July 2013 and are exploring options, including accepting applications for authorisation before the implementation date. The FSA is particularly seeking responses from UK firms that (a) carry out management activities in the European Economic Area (EEA) and/or (b) market their AIFs in the EEA and that intend to seek an AIFMD passport to continue these activities beyond 22 July 2013. Specifically, the FSA intends to use survey results to better understand the likely volume, types and timing of applications submitted to the FCA (successor to the FSA as of 1 April 2013) so the FCA can be best prepared to assist UK firms.
If a firm’s business will be disrupted as a result of not being authorised under the AIFMD by 22 July 2013, and therefore not being able to manage or market in the EEA via an AIFMD passport, then the firm MUST complete this survey. The FSA will then contact the firm to discuss next steps.
The survey may be completed online at the FSA’s web site.
The survey due date is 28 March 2013.