Comment Letter to ESMA on its Technical Advice to the European Commission for Implementing AIFMD

MFA submitted comments to ESMA on its consultation on Third Country Provisions in the AIFMD. In our response, among other issues, we encourage ESMA to allow delegation to non-EU managers without requiring equivalence, as contemplated by the text of the AIFMD; clarify cooperation agreements in the delegation, non-passport, and passport contexts; and clarify the criteria used to establish a Member State of reference.