Template:Nutshell AIFMD 36(1)

36(1). Member States may allow an authorised EU AIFM to market non-EU AIFs to professional investors, in their territory only as long as:

(a) Depositary-lite: the AIFM complies with all of AIFMD except for having a depositary — though it must appoint someone to perform the following depositary functions:

(i) Cashflows: monitor cashflows (art. 21(7)),

(ii) Custody: hold assets in custody (art. 21(8)), and

(iii) Subscriptions and redemptions: issue and cancel units and calculate NAV (art. 21(9))

and the AIFM may not do this itself. It must tell the regulator who it has appointed.

(b) Regulatory cooperation: there must be suitable arrangements between regulators in the AIFM’s member state and the AIF's home regulator to exchange information and cooperate to monitor systemic risks;

(c) No dodgy money-laundering types: the AIF’s home jurisdiction is not listed as a Non-Cooperative Country and Territory by FATF.