AIFMD Passport: Non-EU Jurisdictions
Of relevance to:
AIFMs and, non-EU fund managers
As we know (see Regulatory Roundup 78) the AIFMD allows for the extension of the marketing passport to EU AIFMs of non-EU AIFs (currently such marketing is subject to the national private placement regime – “NPPR”) and to non-EU AIFMs (currently also NPPR only) as well as the extension of the management passport to non-EU AIFMs. ESMA has already given a thumbs-up to a few countries such as Switzerland, Jersey, Hong Kong etc. – please see Regulatory Roundup 78 for further information.
ESMA has published an updated ‘Advice’ paper which sets out in the one place its assessments of these third-countries.
The document advises (page 105) that ESMA has started gathering intelligence on the following non-EU countries: