Asset Management

Impact of AIFMD on non-EU asset managers: Wider reaching than most asset managers realize

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The impact of the Alternative Investment Fund Managers Directive (AIFMD) on non-EU asset managers is wider than most asset managers realize.

Fund managers not previously subject to regulation (or subject to light regulation) may be significantly affected by the AIFMD. They could now need to comply with detailed conduct-of-business requirements and also face potential changes to operating models.

The AIFMD has ramifications far beyond achieving basic compliance. It introduces a harmonized regulatory and supervisory framework that will affect not only European fund managers, but also both alternative and registered fund managers outside of the EU.

With the exception of UCITS, the AIFMD covers all funds marketed in Europe and outlines risk-management guidelines for fund managers. The governance and organizational structure required for affected fund managers are significant.

Join our panel for an interactive discussion on topics including:

  • Highlights of AIFMD requirements and key milestones
  • Options for non-EU fund managers (AIFMD compliance or national private placement regimes)
  • Compliance considerations for immediate attention and strategic review

Clear presentation of complicated topic. Addressed many top of mind questions I had about marketing to EU investors.

- Controller, Private Equity

Panelists

Phil Andriyevsky

Ernst & Young LLP

Phil is a Senior Manager in Ernst & Young LLP’s Enterprise Intelligence practice in New York. He has over nine years of experience within Data Strategy, Data Management, Advanced Analytics, and reporting with major financial firms.

Phil provides guidance to bulge bracket investment banks, asset managers and insurers on: Data Warehouse implementations, Business Intelligence implementation, Technology Roadmaps and process redesign.

Phil has also lead the development design and implementation of major reporting and analytics initiatives within the front office, Controllers, Compliance, and Audit functions.

Daniel New

Ernst & Young LLP

Daniel New is an Executive Director in our National Asset Management Advisory Practice with experience in the Financial Services industry serving asset management clients in the areas of regulatory compliance, risk management, process review and improvement, business performance, internal control review, and project management assistance. Specifically, he works with asset managers to improve the overall effectiveness of operations and to assess and improve the internal control environment related to client operations.

Daniel holds a BBA from Emory University. He is also a C.P.A., member of the American Institute and Massachusetts Society of Certified Public Accountants and is the former Co-Chair of the NICSA Compliance and Risk Management Committee.

Michael Sakala

Ernst & Young LLP

Michael Sakala is a Senior Manager in Ernst & Young LLP’s Financial Services Advisory practice. He has over 20 years of work experience in the asset management industry and has comprehensive knowledge of financial services. He has developed and implemented compliance programs and regulatory documents. In addition, he has extensive experience in developing, reengineering, and overseeing financial operations of large and mid-sized global asset management firms.

Michael earned a Master of Science in Finance from Bentley College, and a Bachelor of Business Administration from the University of Massachusetts at Amherst.

Covered a lot of ground at an appropriate mix of high level with some detailed analysis

- Legal Counsel, Asset Management

Moderator

Samer Ojjeh

Ernst & Young LLP

Samer is a Prinicipal in Ernst & Young LLP’s Asset Management Advisory Services practice based in New York. He leads the firm’s advisory initiatives in the Alternative Asset Management marketplace. He has over 18 years of experience in the field of business advisory. Samer has helped numerous institutional Asset Managers, private equity, hedge funds and fund administrators in improving and/or expanding the efficacy and effectiveness of their front, middle and back office functions, redesigning operational processes to support changes in organizational structures, processes and technology platforms.

Samer’s experience includes advisory services relating to organizational refinement for private equity and hedge funds. He is an experienced advisor for trade/deal capture portfolio management, portfolio accounting and partnership accounting systems implementation, middle-office formation, and software vendor selection, as well as the infrastructure build-up related to the out-sourcing of middle- and back-office functions. He has spoken at many domestic and international Traditional and Alternative Asset Management industry conferences.

Unbiased discussion.

- Internal Auditor, Banking & Capital Markets