CP12/32: Implementation of the Alternative ... - BVCA admin

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CP12/32 Implementation of the Alternative Investment Fund Managers Directive COLL Collective Investment Schemes sourcebook of the FSA Handbook Commission European Commission CP consultation paper CP2 The FSA’s second AIFMD consultation CPM firm collective portfolio management firm CPMI firm collective portfolio management investment firm CRD 3 The third Capital Requirements Directive 2006/48/EC DP discussion paper DPB Designated Professional Body EEA European Economic Area EFTA European Free Trade Association ESA European Supervisory Authority ESMA European Securities and Markets Authority Annex X ESMA advice Final Report on ESMA’s technical advice to the European Commission on possible implementing measures of the Alternative Investment Fund Managers Directive published on 16 November 2011 ESRB European Systemic Risk Board EU European Union, which includes the European Economic Area (EEA) unless otherwise stated FCA Financial Conduct Authority FOS Financial Ombudsman Service FSA Financial Services Authority FSCS Financial Services Compensation Scheme FSMA Financial Services and Markets Act 2000 FUND draft Investment Funds sourcebook of the FSA Handbook G20 The Group of Twenty Finance Ministers and Central Bank Governors GENPRU General Prudential sourcebook of the FSA Handbook HFACS FSA Hedge Fund as Counterparty Survey 4 Financial Services Authority November 2012
HFS FSA Hedge Fund Survey November 2012 CP12/32 Implementation of the Alternative Investment Fund Managers Directive IPRU (INV) Interim Prudential sourcebook for Investment Business of the FSA Handbook ITS implementing technical standards JV joint venture Level 2 Regulation The Commission regulation on AIFMD implementing measures (awaiting adoption at date of publication of this paper) Member State a Member State of the European Union MiFID Directive 2004/39/EC on Markets in Financial Instruments NAV net asset value NURS non-UCITS retail scheme OEIC open-ended investment company established under the OEIC Regulations OEIC Regulations Open-ended Investment Company Regulations 2001 (SI 2001/1228) (as amended) OJ Official Journal of the European Union Part IV permission a firm’s permission to carry on a regulated activity granted under FSMA PE private equity PII professional indemnity insurance PRA Prudential Regulation Authority Prospectus Directive Directive 2003/71/EC on the prospectus to be published when securities are offered to the public or admitted to trading (as amended) QIS qualified investor scheme RAO Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544) (as amended) REIT real estate investment trust Remuneration Code Chapter 19A of SYSC RTS regulatory technical standards Solvency II Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance Financial Services Authority 5
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Annex 2 List of consultation questi
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Annex 2 November 2012 CP12/32 Imple
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ALTERNATIVE INVESTMENT FUND MANAGER
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Annex A Making the Investment Funds
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Page 5 of 91 Appendix 1 (2) a descr
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3.2.5 R An AIFM must, for each AIF
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Page 9 of 91 Appendix 1 (6) the agg
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Page 11 of 91 Appendix 1 (4) the id
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[Note: article 15(1) of AIFMD] this
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(1) a full scope UK AIFM of: (a) a
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Page 17 of 91 Appendix 1 (b) the re
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experienced; Page 19 of 91 Appendix
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Page 21 of 91 Appendix 1 by the fac
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Page 23 of 91 Appendix 1 3.11.5 G T
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(Own funds requirement). [Note: art
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supplements the meaning of financia
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instruments remain in its custody;
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supplementing this section] 4. Comm
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Annex B Amendments to the Glossary
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collective portfolio management fir
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Page 37 of 91 Appendix 1 non-listed
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BIPRU 730k firm Page 39 of 91 Appen
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… Page 41 of 91 Appendix 1 (e) (i
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esources only at excessive cost. Pa
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Single Market Directive … Page 45
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Page 47 of 91 Appendix 1 [Note: art
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Page 49 of 91 Appendix 1 7.1.7B In
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Page 51 of 91 Appendix 1 [Note: art
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[Note: paragraph 1(c) of Annex II o
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[Note: paragraph 1(k) of Annex II o
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[Note: paragraph 1(r) of Annex II o
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Page 59 of 91 (2) the fixed overhea
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Page 61 of 91 Appendix 1 amount of
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Types of investment firm: BIPRU 50K
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The following text is new and is no
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Page 67 of 91 Appendix 1 (1) at the
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Page 69 of 91 Appendix 1 so that th
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TABLE 7.4 PART I A firm must calcul
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Note consistently in respect of any
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initial capital (see item 5) if the
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Form of qualifying subordinated loa
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Annex H Amendments to the Supervisi
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Descriptio n of data item Annual re
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… Data item SUP 16.12.12R, unless
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indicated otherwise. Data item Firm
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client assets … Page 87 of 91 App
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… Data item SUP 16.12.23R, unless
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FSA066 and FSA06 are added - see fo
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Liquid assets test 32 Liquid assets
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Professional negligence capital req
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is not listed, select ‘Other’.
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FSA067 Capital adequacy - supplemen
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PII capital requirement 5A This is
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External validations Validation Dat
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