Consultation on Guidelines on sound remuneration policies under the AIFMD

28/06/2012 to 27/09/2012

Annex II of the AIFMD establishes a set of rules (largely inspired from the provisions of Directive 2006/48/EC, the “CRD”) with which AIFMs have to comply when establishing and applying the remuneration policies for certain categories of their staff. Article 13(2) of the AIFMD requires ESMA to develop guidelines on sound remuneration policies which comply with Annex II of the AIFMD. This consultation paper represents the first step in the elaboration of the guidelines on remuneration policies required by the AIFMD and sets out ESMA’s formal proposals for these guidelines.

Responses to this consultation paper will be taken into account by ESMA in finalising the guidelines on sound remuneration policies under the AIFMD. In finalising the guidelines, ESMA will also take into account the development of its work on the separate set of guidelines, which will be complementary to the CEBS Guidelines, focused on remuneration policies of investment firms from an investor protection point of view, for which a separate consultation paper will be published at the end of Q3 2012.

ESMA aims to adopt the final text of the guidelines on sound remuneration policies under the AIFMD in Q4 2012.

Documents

Reference Date Type Title Download More Info
2012/406 28/06/2012 Consultation paper Draft Guidelines on sound remuneration policies under the AIFMD View > See more
2012/441 28/06/2012 Press release ESMA proposes remuneration guidelines for alternative investment fund managers View > See more

Responses

Activity Institution Download
Asset Management AFG View
Asset Management Alternative Investment Management Association View
Asset Management Association of Non-Tradeable Closed-End Funds View
Asset Management Assogestioni View
Asset Management AXA Investment Managers View
Asset Management Baillie Gifford & Co View
Asset Management BVI Bundesverband Investment und Asset Management eV View
Asset Management EFAMA View
Asset Management Hermes Fund Managers Ltd View
Asset Management IMA View
Asset Management Investment Company Institute and ICI Global View
Asset Management T. Rowe Price International Ltd View
Asset Management VOIG View
Banking British Bankers' Association View
Banking Deutsche Bank View
Insurance, pension & asset management ALFI View
Insurance, pension & asset management Association of British Insurers View
Insurance, pension & asset management INREV View
Legal and Accountancy Allen & Overy LLP and Spiderbridge BV View
Legal and Accountancy Studio Capolino-Perlingieri & Leone View
Legal and Accountancy The City of London Law Society View
Others AREF/BPF/IPF View
Others European Property Federation View
Others EVCA - European Private Equity and Venture Capital Association View
Others Hedge Fund Standards Board (HFSB) View
Others Irish Funds Industry Association View
Others Managed Funds Association View