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Delegation 

The European Commission is considering whether it is necessary to restrict the ability of AIFMs to delegate key responsibilities to third parties (i.e. the letter box entity requirements). This is another contentious issue related to the AIFMD, as it can have a significant impact on the operating model of an AIFM. Firms need to develop a clear understanding of the potential ramifications of these letter box entity requirements and begin planning for them in advance of the approaching deadline.
  • Delaying the required assessments and actions in this area may result in the restricted ability to raise new capital and needless increased costs and resource allocations in the rush to achieve compliance before the deadline.

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Contacts

Contacts - The AIFMD: The compliance deadline is looming

Fund Views Video

KPMG's Georges Bock and Charles Muller discuss the substantial strategic impacts on asset managers of the AIFMD "Level 2" implementing measures that were released by the EU Commission on 19 December 2012.