The Securities and Futures Commission has entered into memoranda of understanding concerning consultation, cooperation and the exchange of information related to the supervision of AIFMD entities (AIFMD MoU) with competent authorities of 28 European Union or European Economic Area countries respectively (Note 1).
The AIFMD MoU, as required by the Alternative Investment Fund Managers Directive (AIFMD), are in identical terms and conditions and have come into effect from 22 July 2013 (Note 2).
The AIFMD MoU provide a framework for mutual assistance in the supervision and oversight of managers of alternative investment funds that operate on a cross-border basis, and for exchange of information for supervisory and enforcement purposes in a manner consistent with and permitted by all applicable laws and requirements.
Notes:
- The 28 European Union or European Economic Area countries are Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Ireland, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Romania, Sweden, Slovak Republic and the United Kingdom.
- AIFMD refers to the Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010.