The Securities Commission has signed a Memorandum of Understanding (MoU) under the Alternative Investment Fund Managers Directive (AIFMD) with its French counterpart, the Autorit� des March�s Financiers (AMF).
The latest AIFMD MoU was signed by the Commission’s chairman, Tonya Bastian-Galanis, and the AMF chairman, G�rard Rameix, on Wednesday, October 1, during the 39th Annual Conference of the International Organisation of Securities Commissions (IOSCO) in Rio de Janeiro.
The signing takes the number of AIFMD MoUs signed by the Securities Commission to 24.
The AIFMD MoUs allow Bahamas-based Alternative Investment Fund Managers (AIFMs) to market or perform fund management activities in markets supervised by co-signatory European securities regulators.
They also allow European-based fund managers to manage or market Bahamas-based AIFs in markets where the European regulator has entered into an AIFMD MoU with the Commission.
The objective of AIFMD, a directive of the European Parliament and Council, is to create a comprehensive regulatory framework for investment fund managers either operating from the European Union or marketing funds there.
The products involved include hedge funds, private equity funds, real estate funds and other types of institutional funds.
The Securities Commission is seeking to conclude arrangements with counterpart regulators from the remaining seven EU member states this year.
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