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Template:Nutshell AIFMD 36: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{aifmdprov|36(1)}}. Member States may allow an authorised EU AIFM to market {{aifmdprov|non-EU AIF}}s to professional investors, in their t...") |
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{{aifmdprov|36(1)}}. Member States may allow an authorised EU [[AIFM]] to market {{aifmdprov|non-EU AIF}}s to [[Professional investor fund|professional investors]], in their territory only as long as: <br> | {{aifmdprov|36(1)}}. Member States may allow an authorised EU [[AIFM]] to market {{aifmdprov|non-EU AIF}}s to [[Professional investor fund|professional investors]], in their territory only as long as: <br> | ||
:(a) '''A light depositary''': the [[AIFM]] complies with all of AIFMD except for having a {{aifmdprov|depositary}} — though the AIFM must appoint someone to: | :(a) '''A light depositary''': the [[AIFM]] complies with all of AIFMD except for having a {{aifmdprov|depositary}} — though the AIFM must appoint someone to: | ||
::monitor cashflows (art. {{aifmdprov|21(7)}}), | ::(i) '''Cashflows''': monitor cashflows (art. {{aifmdprov|21(7)}}), | ||
::hold assets in custody (art. {{aifmdprov|21(8)}}), and | ::(ii) '''Custody''': hold assets in custody (art. {{aifmdprov|21(8)}}), and | ||
:: issue and cancel units and calculate NAV (art. {{aifmdprov|21(9)}}) | ::(iii) '''Subscriptions and redemptions''': issue and cancel units and calculate NAV (art. {{aifmdprov|21(9)}}) | ||
:and the [[AIFM]] may not do this itself. It must tell the regulator who it has appointed. <br> | :and the [[AIFM]] may not do this itself. It must tell the regulator who it has appointed. <br> | ||
:(b) '''Regulatory cooperation''': there must be suitable arrangements between regulators in the {{aifmdprov|AIFM}}’s member state and the AIF's home regulator to exchange information and cooperate to monitor systemic risks;<br> | :(b) '''Regulatory cooperation''': there must be suitable arrangements between regulators in the {{aifmdprov|AIFM}}’s member state and the AIF's home regulator to exchange information and cooperate to monitor systemic risks;<br> | ||