Seminar set to help managers navigate AIFMD

| February 13, 2013 | 0 Comments
Fiona Le Poidevin, Guernsey Finance

Funds experts from Guernsey and the UK are set to take to the stage in London to help fund managers and their advisers navigate the EU’s Alternative Investment Fund Managers Directive (AIFMD).

The panellists will look at how publication of the final Level 2 rules at the end of last year means that fund managers can now develop strategies which will best meet their specific needs, including the use of Guernsey’s dual regulatory regime, which will be available from July 2013.

Guernsey’s funds sector is well advanced with preparations to introduce a regime which is fully AIFMD compliant, while also maintaining the existing regulations for those investors and managers not requiring an AIFMD fund.

The event, ‘Navigating AIFMD’, is being held on the afternoon of Tuesday 19 March at the Grand Connaught Rooms in London.

Fiona Le Poidevin, Chief Executive of Guernsey Finance, the promotional agency for the Island’s finance industry, said: “AIFMD will have a major impact on the funds industry not just in Europe but globally. Fund managers need to understand the implications and potential options for the future, including the use of a ‘third country’, such as Guernsey.

“Guernsey intends to have a dual regime from July 2013. The Island is already well on the way to introducing a full AIFMD equivalent regime for those EU investors and managers who are obliged to take this route or any investors or managers who choose this as their preferred option. At the same time, we are going to maintain our existing regime, which will be available to EU investors and managers who are able to take advantage of national private placement regimes, which continue until at least 2018, or those who fall outside the scope of AIFMD.

“Our approach means that managers will continue to use the Island because we will still offer the very same services – to both EU and non-EU investors and managers – that have made us a leading international funds centre. This London seminar will help fund managers understand the potential benefits of this dual regime in the context of the wider implications of AIFMD.”

Panellists for the event include Guy Rainbird, Public Affairs Director at the Association of Investment Companies (AIC) and Jonathan de Lance-Holmes, Partner at Linklaters. Jarrod Cowley-Grimmond, Director of Finance Sector Development for the States of Guernsey, will moderate the panel session, while Neale Jehan of KPMG, who is leading the Island’s AIFMD working party, is also on the panel and will provide an overview of AIFMD and how it relates to Guernsey.

Other topics to be covered at the event include latest interpretations of the Level 2 rules, the changes to private placement regimes in Member States, delegation structures, depositary rules and an update on progress with co-operation agreements.

Miss Le Poidevin said the event should appeal to investors, fund promoters, investment managers, fund formation lawyers, tax advisors and anyone launching a fund.

She added: “Our speakers are extremely well placed to provide fund managers with a significant level of detail and technical expertise on AIFMD, its implications and their potential options for the future. The panellists will also be ready to answer any questions from the audience so we expect it to be a highly interactive and informative debate which really gets to the heart of matters which are of a concern to the funds community in the UK and beyond.”

The seminar, which is free to attend, takes place from 4pm on Tuesday 19 March 2013 at the Grand Connaught Rooms, London. It will be followed by a drinks reception, sponsored by Dexion Capital Guernsey, at 6pm. Northern Trust is sponsoring registration and coffee.

For further information or to book a delegate place please contact Jennifer Baudains by email j.baudains@guernseyfinance.com or telephone +44 (0) 1481 720071.

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Category: Finance & Business

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