tailieunhanh - Marketing in Europe in the post-AIFM Directive era

Interning in the Office of Inspector General provides law students with hands-on experience involving a wide variety of issues and a unique opportunity to obtain exposure to the various divisions and offices of the Commission. Students interning in the Office of Inspector General may be assigned to assist both the audit and investigations units of the Office. Interns working with auditors typically attend interviews, prepare memoranda summarizing those interviews, assist in conducting audit testing, and may also draft portions of audit reports. Interns assisting the Office’s investigators generally participate in witness interviews and testimonies, conduct document and e-mail review, and may draft portions of investigative reports. Students also. | Marketing in Europe in the post-AIFM Directive era Effectively navigating the regime sll Ernst YOUNG Quality In Everything We Do The recently voted Alternative Investment Fund Managers AIFMs Directive establishes a harmonized European regime for alternative investment funds AIFs and their managers. Effectively navigating the sophisticated marketing regime for AIFs will be a key challenge and could lead to competitive advantage for alternative investment groups. Introduction Voted by the European Parliament in November 2010 the AIFM Directive covers all alternative sectors such as hedge funds real estate and private equity as well as traditional sectors where the fund products are not registered as AIF products are generally reserved for professional investors but may also be marketed to retail investors. Today investors access alternative investment products primarily through national private placement channels for European investors and products the AIFM marketing regime will replace these. The AIFM marketing regime is a complex set of rules covering the marketing of AIFs to EU investors by or on behalf of EU and non-EU AIFMs. Following the transposition of the AIFM Directive into national legislation in 2013 EU AIFMs will benefit from a passport enabling them to market their EU AIFs to EU professional investors in their home Member State or cross-border following a notification. For non-EU AIFMs and non-EU AIFs the situation is more complex. Following a transitional period non-EU AIFMs and non-EU AIFs should benefit from the same rights and same obligations as EU AIFMs with EU AIFs marketing into the EU with a passport may become available to non-EU AIFMs and non-EU AIFs from 2015 onward. We believe that alternative investment groups should - on a case-by-case basis and particularly in light of the AIFM marketing regime - conduct a strategic review of their fund ranges and also their operating models before focusing on achieving compliance with the .