In January, the Financial Services Authority (FSA) kicked off the new year with the the paper, Implementation of the Alternative Investment Fund Managers Directive. The regulator discussed its future compliance plans for fund managers, depositaries, valuers and administrators.
The FSA plans to implement, beginning in July 2013, "significant changes" to regulate alternative fund managers working in the UK and the EU. The ambitious directive will the change regulation for (potential) AIFMs currently operating, managing and/or marketing alternative investment funds (AIFs). It will alter how AIFMs conduct their businesses, interact with third-party service providers under delegation (outsourcing)...
