An AIFM is responsible for ensuring the fund’s compliance with the AIFMD, and, as its core activities, performs portfolio management and /or risk management. This includes ensuring the fund’s compliance with the AIFMD, the offering document/prospectus, operating procedures, agreements and oversight of third party service providers.
The task of ensuring the constant compliance of a fund with the various legal and regulatory developments applicable; identifying, assessing and understanding AML and terrorist financing risks, threats and vulnerabilities, are all undertaken by the AIFMs AML and Compliance Officer.
The AIFM has responsibility for the oversight of service providers including the fund administrator and depositary. It must ensure amongst others that the administrator conducts its assessment of investors in line with KYC and AML regulations, AIFMD and fund restrictions, whilst it must also ensure that the depositary has taken custody and a correct record of the fund’s assets at all times.
There are increasing compliance requirements required by the Common Reporting Standard (CRS) and the UK and US Foreign Account Tax Compliance Acts (FATCA) adding to the complexities of doing business. As a fund manager it can be hard to keep up with all the global standards, compliance obligations including GDPR, KYC and reporting deadlines. We help ease the burden and ensure you meet your fund’s regulatory and compliance obligations. (see Regulatory Reporting).