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From the magazine SZW-RSDA 5/2018 | S. 496-516 The following page is 496

Compliance-Anforderungen für Schweizer Asset Manager alternativer ­Investmentfonds

Parallele Anwendung europäischer und nationaler Regulierungen

The European Directive 2011/61/EU (AIFMD) was a reaction of the European legislator to the financial ­crisis of 2007/2008. The Directive aims to provide for a harmonized and stringent regulatory and supervisory framework for the activities within the EU of all Alternative Investment Fund Managers (AIFM). Due to its fund manager focused approach, AIFMD imposes authorization requirements and ongoing obligations regarding inter alia organizational arrangements, business conduct, sound and effective risk management, remuneration practices, conflicts of interests and transparency on all AIFM. Once authorized, the AIFM benefits from two forms of the European passport permitting an AIFM to market units or shares of any AIF that he manages to professional investors in the home Member State of the AIFM as well as in other EU Member States (passport of marketing) and managing an AIF located in a Member State other than the home Member State of the AIFM (passport of managing). At the moment, an…

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