In light of the feedback received, ESMA  will develop a consultation paper in Q2 2012 setting out formal proposals for draft regulatory technical standards on Article 4(4) of the AIFMD.
	The results of that public consultation will be used by ESMA  in finalising the draft regulatory technical standards to be submitted to the European Commission for endorsement by the end of 2012.
	Link to the list of responses
      
      
      
      
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