Clifford Chance

Extending the AIFMD marketing passport to non-EU AIFMs: no decision – yet

22 January 2016

ESMA published on 19 January 2016 a letter from the European Commission in response to its opinion on the functioning of the EU passport and national private placement regimes (NPPRs) and its advice on extending the AIFMD marketing passport. It concludes that the passport should not be extended to non-EU funds and managers at the present time, the Commission deferring its decision on whether to extend the passport, and to whom, until a 'sufficient number' of countries have been 'appropriately assessed' by ESMA.

Download PDF