Inaugural issue of the Legal Practitioners Track quarterly Legal Tracker series
ISLP is pleased to share the inaugural issue of the GIIN/ISLP Legal Practitioners Track quarterly Legal Tracker series. The LPT launched this initiative to track key legal and regulatory developments affecting the impact investing space. With the pro bono assistance of ISLP member firms, the project will produce quarterly briefing papers canvassing and analyzing developments around key issues identified by the LPT’s membership.
The first issue of the series, a briefing paper prepared by Clifford Chance, addresses potential and current Article 42 registration requirements under the European Union Alternative Fund Managers Directive (AIFMD). The Directive came into force in July of 2011 and regulates the alternative investment industry at the EU level. The Directive applies to fund managers outside the EU who manage alternative investments funds (AIFs) within, or market AIFs to investors in, the EU. This briefing paper is geared toward U.S. AIF managers and contains the most recent set of country-by country private placement registration requirements under this Directive, specifically, relevant provisions stemming from Article 42 of the AIFMD, under which regime AIF managers are currently required to register in each jurisdiction in which they market their interests. You can access the briefing paper here:
This is the first of several briefings to be produced in collaboration among the GIIN, ISLP, and Clifford Chance.