The Central Bank wishes to remind all investment funds authorised in accordance with the NU Series of Notices and their proposed alternative investment fund managers (AIFM) that the transitional date for compliance with the European Union (Alternative Investment Fund Managers) Regulations 2013 (“the AIFM Regulations) is 22 July 2014. In preparation for this, at the end of September last, the Central Bank wrote to these investment funds seeking to ascertain their intentions vis-a-vis compliance with the AIFM Regulations in advance of the expiry of the transitional date. This information informs the Central Bank regarding numbers of expected applications and so enables manpower planning for processing of applications for authorisation of AIFM.
Further to the above, the Central Bank now wishes to advise that 21 February 2014 has been set as the latest date for receipt of applications seeking authorisation as AIFM including internally managed AIF. For those applicants whose assets under management are below the thresholds set out in Regulation 4 of the AIFM Regulations, applications to act as Registered AIFM should also be received by 21 February 2014.
Given the expected volumes of applications, applicants are advised to submit completed applications at the earliest opportunity. Applicants should take care to ensure their applications are of the highest standard as incomplete or insubstantial applications will be returned. Application forms may be accessed from the Central Bank’s website www.centralbank.ie under the AIFMD page.
Securities and Markets Supervision Division