Treasury has published:

  • the Alternative Investment Fund Managers Regulations 2013 in draft: these Regulations need approval from both Houses of Parliament and constitute most of the UK's implementation of the Alternative Investment Fund Managers Directive (AIFMD). They are the Regulations consulted on by Treasury and broadly contain the provisions relating to authorisation of alternative investment fund managers (AIFMs), marketing of alternative investment funds (AIF), transparency and incentives, treatment of third country funds and managers and data gathering and sharing powers. The Regulations must take effect from 22 July; and
  • the Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013: these Regulations were made on 5 June and took effect from 6 June. They provide for the establishment, authorisation and supervision of collective investment schemes which are contractual funds.

(Source: Draft AIFM Regulations 2013 and Contractual Schemes Regulations)