Commission Delegated Regulation supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the information to be notif...

EUROPEAN COMMISSION Brussels, 15.12.2023 C(2023) 8706 final COMMISSION DELEGATED REGULATION (EU) …/... of 15.12.2023 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) (Text with EEA relevance) EXPLANATORY MEMORANDUM 1. CONTEXT OF THE DELEGATED ACT Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010 (AIFM Directive)1 contains provisions allowing alternative investment fund managers (AIFMs) to market in host Member States the units or shares of alternative investment funds (AIFs) they manage. The Directive allows AIFMs to carry out activities in host Member States under the freedom of establishment and / or the freedom to provide services. In order to foster convergence and to standardise the transmission of notifications for crossborder marketing and the cross-border management activities of AIFs throughout the EU, the AIFM Directive contains provisions mandating the European Securities and Markets Authority (ESMA) to develop draft regulatory technical standards (RTS) and draft implementing technical standards (ITS) for the exchange of information and...