AIMA’s AIFMD Implementation Project will aim to provide guidance to the industry on complying with the Directive, create a forum for discussion within the industry on the practicability of the new requirements, and generate feedback on practical implementation issues that will be passed to policymakers.
AIMA will work in partnership with PwC, the corporate audit, tax and consulting firm, on the creation of an online operational guide that will assist hedge fund firms in preparing for and tracking their compliance readiness as they approach the Directive’s July 2013 transposition deadline. It is expected that the guide will be published by the end of the year.
AIMA will also publish a handbook on the Directive that will aim to provide guidance regarding the AIFMD’s requirements in areas of uncertainty. It will appear later than the operational guide in order to take account of issues highlighted by the process of implementing the Directive at an EU Member State level. AIMA also intends to host seminars on the Directive around the world.
Andrew Baker, AIMA’s CEO, said: “We expect the AIFMD’s implementing measures to be published shortly, and when that day finally comes, the global industry will have only a few months to comply with probably the most extensive set of regulatory reforms in its history. We are under no illusions as to the size of the task facing the industry, but AIMA is determined to play a leading role in these efforts.
“I would like to thank the leaders of the working groups and all of the AIMA member firms who are involved in the project for volunteering their time and expertise. Their contributions have been invaluable during the AIFMD negotiations and will be even more so during the implementation phase.”
Press release
© AIMA - Alternative Investment Management Association
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