European Securities and Markets Authority (ESMA) has now produced its guidelines on sound remuneration policies under the Alternative Investment Fund Managers Directive (AIFMD), which apply to managers of alternative investment funds. Peter Trevett QC considers the resulting tax issues affecting fund managers operating through LLPs
The European Securities and Markets Authority (ESMA) has now produced its guidelines on sound remuneration policies under the Alternative Investment Fund Managers Directive (AIFMD) which apply to managers of alternative investment funds (AIFs).
The core of the guidelines is that remuneration policies should align the risks taken by ‘identified staff’ of the AIFM (very broadly senior management risk takers and compliance staff and those whose remuneration equates to senior staff) with those of the AIFs under management the investors in such AIFs and...
