Commission Delegated Regulation (EU) 2024/912 of 15 December 2023 supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the information to be notified in relation to the cross-border activities of managers of alternative investment funds (AIFMs)
Information to be communicated under Article 33(2) of Directive 2011/61/EU
1. The information that AIFMs are to communicate under Article 33(2), point (a), of Directive 2011/61/EU shall contain all the following:
(a)
the name, address, LEI and contact details of the AIFM;
(b)
the name and contact details of the department or contact point at the AIFM that is responsible for exchanging information with the competent authority of the AIFM’s home Member State.
2. The information that AIFMs are to communicate under Article 33(2), point (b), of Directive 2011/61/EU shall contain all the following:
(a)
the particular activities of collective portfolio management set out in Annex I to Directive 2011/61/EU and of the particular services set out in Article 6(4) of that Directive that will be provided;
(b)
the business strategy of the AIFM in the host Member State, and in particular the categories of targeted clients and investors with which the AIFM will be dealing in the host Member State and how the AIFM will deal with those investors;
(c)
a summary of the controls over delegation arrangements with third parties in connection with the activities carried out in the host Member State;
(d)
information on the AIFs that the AIFM intends to manage in the host Member State, including all the following:
(i)
the name, home Member State, legal form, investment strategy and, if applicable, duration of the AIF;
(ii)
the national identification code, the International Securities Identification Number (ISIN) and the Legal Entity Identifier (LEI) of the AIF, where available;
(iii)
in case of master-feeder structures, the name of the master AIF, where available its LEI, and, where the AIFM of the master AIF is different from the AIFM of the AIF to be managed, the AIFM of the master fund, its home Member State and, where available, its LEI.
Information to be provided under Article 33(3) of Directive 2011/61/EU
1. The information that AIFMs are to provide under Article 33(3), point (b), of Directive 2011/61/EU shall contain the name, address, where available national identification codes, and contact details of the department or contact point within the branch that is responsible for exchanging information with the competent authorities of the AIFM’s home Member State or with the competent authorities of the Member State where the branch is established.
2. The information that AIFMs are to provide under Article 33(3), point (c), of Directive 2011/61/EU about persons responsible for the management of the branch shall contain the name, position, email address, and telephone number of individuals performing key functions in a leading position in relation to the branch.
3. The information on the organisational structure of the branch that AIFMs are to provide under Article 33(3), point (a), of Directive 2011/61/EU shall contain all the following:
(a)
whether the AIFM is a member of a group;
(b)
an explanation of how the branch will contribute to the strategy of the AIFM, or the AIFM’s group;
(c)
the following information on the organisation of the branch:
(i)
functional, geographical, and legal reporting lines;
(ii)
a description of how the branch fits into the corporate structure of the AIFM, or, where the AIFM is a member of a group, into the corporate structure of the group;
(iii)
the rules for reporting by the branch to the AIFM;
(iv)
a description of the risk measurement and management process put in place by the AIFM at the level of the branch under Article 45 of Commission Delegated Regulation (EU) No 231/2013 ( 5 ) ;
(d)
a summary of the systems and controls that will be put in place, including all the following:
(i)
procedures put in place and the human and material resources allocated, to comply with the rules drawn up by the AIFM’s host Member State pursuant to Articles 12 and 14 of Directive 2011/61/EU;
(ii)
procedures put in place and the human and material resources allocated, to comply with anti-money laundering and counter financing of terrorism obligations laid down in Directive (EU) 2015/849 of the European Parliament and of the Council ( 6 ) ;
(iii)
controls over delegation arrangements with third parties in connection with the activities carried out by the branch;
(e)
forecast statements for both, profit or loss and cash flow, for the first 36-month.
Notification of any changes to the information communicated or provided under Article 33(2), (3) and (6) of Directive 2011/61/EU
1. AIFMs shall notify the competent authorities of their home Member State about any change to the information referred to in Articles 1 and 2.
2. AIFMs shall inform the competent authorities of their home Member State about the planned termination of a branch established in another Member State, and shall provide those competent authorities with all the following:
(a)
the name, email address and telephone number of the person or persons who will be responsible for the process of terminating the operation of the branch;
(b)
the schedule for the planned termination;
(c)
the details of, and processes proposed for, winding down the business operations, including details about how investor interests will be protected, complaints will be resolved, and any outstanding liabilities will be discharged.
Entry into force and application
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union .
This Regulation shall apply from 25 June 2024.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.
