The MoU signed by the SFC is in relation to the implementation of the Alternative Investment Fund Managers Directive and provides for the SFC to cooperate and exchange information with the relevant authorities within Europe to supervise AIFMD entities.
Specifically, the MoU means the SFC will cooperate with the 28 European Union or European Economic Area countries in which the AIFMD was implemented earlier this summer.
The SFC added that the AIFMD MoU provides “a framework for mutual assistance in the supervision and oversight of managers of alternative investment funds that operate on a cross-border basis”, and for exchange of information for supervisory and enforcement purposes in a manner consistent with and permitted by all applicable laws and requirements.
