Implementing regulation 2013/448 - Procedure for determining the Member State of reference of a non-EU AIFM pursuant to Directive 2011/61/EU - Main contents
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official title
Commission Implementing Regulation (EU) No 448/2013 of 15 May 2013 establishing a procedure for determining the Member State of reference of a non-EU AIFM pursuant to Directive 2011/61/EU of the European Parliament and of the Council| Legal instrument | Implementing regulation |
|---|---|
| Number legal act | Implementing regulation 2013/448 |
| CELEX number i | 32013R0448 |
| Document | 15-05-2013 |
|---|---|
| Publication in Official Journal | 16-05-2013; Special edition in Croatian: Chapter 06 Volume 012,OJ L 132, 16.5.2013 |
| Effect | 05-06-2013; Entry into force Date pub. +20 See Art 2 22-07-2013; Application See Art 2 |
| End of validity | 31-12-9999 |
16.5.2013 |
EN |
Official Journal of the European Union |
L 132/3 |
COMMISSION IMPLEMENTING REGULATION (EU) No 448/2013
of 15 May 2013
establishing a procedure for determining the Member State of reference of a non-EU AIFM pursuant to Directive 2011/61/EU of the European Parliament and of the Council
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to 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 (1), and in particular Article 37(14) thereof,
Whereas:
(1) |
In the situations referred to in point (b), point (c)(i), points (e) and (f) and point (g)(i) of Article 37(4) of Directive 2011/61/EU, more than one Member State could be considered as a possible Member State of reference of a non-EU manager of alternative investment funds (AIFMs) intending to manage EU alternative investment funds (AIFs) and, as the case may be, or market AIFs managed by it in the Union. In those cases the non-EU AIFM has to submit a request to the competent authorities of those Member States to determine its Member State of reference. The request should be accompanied by all the relevant information and documentation necessary for determining the Member State of reference for this AIFM. A joint decision should be adopted by the competent authorities concerned to determine the Member State of reference. A procedure to be followed by the relevant competent authorities when determining the Member State of reference needs to be established. Whilst the appointment of the Member State of reference is the joint responsibility of the competent authorities of the Member States concerned, the European Securities and Markets Authority (ESMA) established by Regulation (EU) No 1095/2010 of the European Parliament and of the Council (2) should ensure that all possible Member States of reference are duly involved in such decision-making and should assist in reaching an agreement. |
(2) |
The procedure for determining the Member State of reference is different from the procedure for applying for a passport under Directive 2011/61/EU. Once the Member State of reference has been determined the non-EU AIFM concerned has to apply for authorisation to the competent authority of that Member State, following the same procedure and subject to the same conditions as applicable to AIFMs under Articles 7 and 8 of Directive 2011/61/EU. |
(3) |
Directive 2011/61/EU obliges Member States to apply the laws, regulations and administrative provisions which transpose that Directive from 22 July 2013. Without prejudice to the delegated act required in Article 67(6) of Directive 2011/61/EU, the application of this Regulation is therefore also deferred to the same date. |
(4) |
The measures provided for in this Regulation are in accordance with the opinion of the European Securities Committee, |
HAS ADOPTED THIS REGULATION:
Article 1
Procedure for determining the Member State of reference from among several possible Member States of reference
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1.Where a non-EU alternative investment fund manager (AIFM) intending to manage EU alternative investment funds (AIFs) without marketing them or intending to market AIFs managed by it in the Union submits a request to determine its Member State of reference pursuant to the second subparagraph of Article 37(4) of Directive 2011/61/EU, that request shall be in writing and shall be addressed to each of the competent authorities of the Member States that are possible Member States of reference. The request shall list all the possible Member States of reference.
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2.The request by the non-EU AIFM shall include the information and documentation necessary for...
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