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David Young#6852

David Young

Pinsent Masons
Head of the UK asset management and investment funds practice, David has almost 20 years’ experience advising on both advisory and transactional matters with particular experience in the alternative investment fund, asset management and institutional investment sectors. David’s clients include high-profile asset managers, pension schemes, institutional investors and large sovereign wealth funds.

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1 Contributions by David Young

Preparing compliant AIF prospectuses: UK AIFM FCA FUND 3.2 transparency rules, POATRs interaction, and related retail, SFTR and SDR disclosures
PRACTICE NOTES
Preparing compliant AIF prospectuses: UK AIFM FCA FUND 3.2 transparency rules, POATRs interaction, and related retail, SFTR and SDR disclosures
AIFMD transparency and prospectus requirements The Alternative Investment Fund Managers Directive (Directive 2011/61/EU) (AIFMD) took effect in UK national law on 22 July 2013, establishing rules on transparency and the information to be provided to prospective investors before they commit to an investment decision. For investors and an alternative investment fund manager (AIFM), the core document is the investment prospectus (also referred to as an information memorandum). It must present all material details about the opportunity so that an investor can make a properly informed choice. This Practice Note outlines the prospectus transparency obligations in the Financial Conduct Authority (FCA) Handbook-specifically, the Investment Funds sourcebook, chapter 3.2 (FUND 3.2)-and examines how these principles should be applied when preparing an investment memorandum that is fit for purpose. Related materials include: Practice Note: UK AIFM regime-disclosure, reporting and anti-asset stripping requirements, on the disclosure and reporting duties imposed on UK AIFMs Practice Note: EU AIFMD-transparency rules and the prospectus, on the equivalent obligations under the EU AIFMD framework For a comprehensive overview of the UK AIFM regime, see Practice Note: UK regulation of alternative investment fund managers-essentials Pre-investment disclosures to investors...
Financial Services
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