EU Unlikely to Extend Fund Passport in 2016

Shanny Basar
It is unlikely that alternative asset managers from outside Europe will be able to market funds in the region under a single passport this year, according to Sean Tuffy, head of regulatory intelligence at Brown Brothers Harriman in Dublin.
The Alternative Investment Fund Managers Directive Passport was meant to extended to non-EU managers and funds by July last year. Without the AIFMD passport, fund managers have to get separate regulatory approval for distribution in each EU member state.

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