The FCA has stated that, from 9 September 2019, it will begin introducing filing changes to the NPPR (National Private Placement Regime), which is the process for the submission of notifications and material change by alternative investment fund managers (AIFMs) under the Alternative Investment Fund Managers Directive (AIFMD).
The NPPR changes will apply to placements falling under regulations 57, 58 and 59 of the UK Alternative Investment Fund Managers Regulations 2013. In particular:
- AIFMs marketing funds which fall under regulations 58, 59 and, for UK AIFMs only, regulation 57, will return to submitting notifications via the FCA’s Connect platform (rather than the previous NPPR notification spreadsheet); and
- Full scope EEA AIFMs marketing AIFs under regulation 57 will be required to submit notifications using new forms (rather than the online Connect platform).
Further information can be found on the FCA’s webpage.
On October 8, 2019