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The Bermuda Monetary Authority (“BMA”) announced on 19 July 2013 that it has entered into co-operation arrangements with securities regulators from the 26 European Union (EU) member states listed within this article. This is welcome news as it means Bermuda funds can continue to be marketed to professional investors in these countries under national private placement regimes after 22 July 2013, the date the European Alternative Investment Fund Managers Directive (“AIFMD”) is transposed into national laws of EU member states.
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AIFMD Update – Bermuda