Andrew Shrimpton Comments on ESMA’s Recently Released AIFMD Passport Announcement

Andrew Shrimpton, Managing Director and Global Head of Compliance Consulting at Duff & Phelps’ Kinetic Partners division, comments on ESMA’s recently released AIFMD passport announcement:

“We welcome ESMA’s opinions and advice to the EU Commission on AIFMD arrangements, many of which reflect previous views published by the organization. In particular, ESMA has taken an individual country approach, rather than prescribing a ‘one size fits all’ basis. This will be good for the development of fund management in Jersey, Guernsey and Switzerland in particular. We are surprised that the Cayman Islands, as the largest non-EEA domicile of hedge funds, was not assessed at this time.”