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AIFMD update: Further pressure on delegation?

Client memorandum | October 19, 2017

A few months ago, we published a client alert reporting that the European Securities and Markets Authority (“ESMA”) had published an investment management “sectoral opinion” that set out certain principles in the context of Brexit, many of which – if implemented – could impact on the ability of EU Alternative Investment Fund Managers (“AIFMs”) to effectively delegate certain functions.

Recent developments continue in the same, rather disappointing, direction.

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