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On 18 July 2013, the European Securities and Markets Authority issued guidelines on the model of the Memorandum of Understanding concerning consultation, cooperation and the exchange of information related to the supervision of AIFMD entities.
On 18 July 2013, the European Securities and Markets Authority
("ESMA") issued guidelines on the model of the Memorandum
of Understanding ("MOU") concerning consultation,
cooperation and the exchange of information related to the
supervision of AIFMD ("Alternative Investment Fund Managers
Directive") entities (the "Guidelines").
The Guidelines delineate the model that should be agreed between
European Union ("EU") and non-EU supervisory authorities.
The model MOU annexed to the Guidelines should be used as a
benchmark by EU competent authorities. This is to ensure that the
proper cooperation arrangements are in place in accordance with the
AIFMD and to ensure consistent application of the AIFMD
provisions.
A link to the Guidelines can be found here.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
