FRANCE: Securities Commission signs 24th AIFMD MoU with AMF

Thursday October 16 2014

The Securities Commission of the Bahamas (The Commission) recently signed a Memorandum of Understanding (MoU) under the Alternative Investment Fund Managers Directive (AIFMD) with French securities regulator the Autorité des Marchés Financiers (AMF).

The latest AIFMD MoU was signed by the Commission’s Chairman and the Chairman of the AMF on Wednesday 1 October 2014, during the 39th Annual Conference of the International Organization of Securities Commissions (IOSCO). The addition of the AMF brings the number of AIFMD MoUs signed by the Commission to 24.

The AIFMD MoUs allow Bahamas based Alternative Investment Fund Managers (AIFMs) to market or to perform fund management activities for alternative investment funds (AIFs) in markets supervised by co-signatory European securities regulators. Similarly, they allow European based fund managers to manage or market Bahamas based AIFs in markets where the European regulator has entered into an AIFMD MoU with the Commission.

The objective of AIFMD, a directive of the European Parliament and Council, is to create a comprehensive regulatory framework for AIFMs either operating from the European Union or marketing AIFs there. AIFs include hedge funds, private equity funds, real estate funds and other types of institutional funds.

The Commission is seeking to conclude arrangements with counterpart regulators from the remaining seven EU member states this year.

Click on the above link for further details.