# The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2018, Regulation 36: Transparency requirements etc: annual report, disclosure and reporting


(1) Before Article 103, omit “(Article 22(2)(a) to (e) and Articles 23(4) and 24(1) of Directive 2011/61/EU)”.
(2) In Article 104(1), for “point (a) of Article 22(2) of Directive 2011/61/EU” substitute “rule 3.3.5(1) of the Investment Funds sourcebook”.
(3) In Article 105(1)(c), for “Article 23 of Directive 2011/61/EU” substitute “section 3.2 of the Investment Funds sourcebook”.
(4) In Article 106—
(a) in paragraphs 1 and 2, for “point (d) of Article 22(2) of Directive 2011/61/EU” substitute “rule 3.3.5(4) of the Investment Funds sourcebook”;
(b) in paragraph 2, for “Article 23 of Directive 2011/61/EU” substitute “section 3.2 of the Investment Funds sourcebook”.
(5) In Article 107—
(a) in paragraph 1, in the opening words, for “point (e) of Article 22(2) of Directive 2011/61/EU” substitute “rule 3.3.5(5) of the Investment Funds sourcebook”;
(b) in paragraph 4, for “Annex II to Directive 2011/61/EU” substitute “rules 19B.1.4 to 19B.1.24 of the Senior Management Arrangements, Systems and Controls sourcebook”.
(6) In Article 108—
(a) in paragraph 1, for “Article 23(4) of Directive 2011/61/EU”, substitute “rule 3.2.5 of the Investment Funds sourcebook”;
(b) in paragraph 2—
(i) in the opening words, for “Article 23(4)(a) of Directive 2011/61/EU” substitute “rule 3.2.5(1) of the Investment Funds sourcebook”;
(ii) in point (b), for “Article 22(1) of Directive 2011/61/EU” substitute “rules 3.3.2 to 3.3.4 of the Investment Funds sourcebook”;
(c) in paragraph 3—
(i) in the opening words, for “point (b) of Article 23(4) of Directive 2011/61/EU” substitute “rule 3.2.5(2) of the Investment Funds sourcebook”;
(ii) in point (a), for “Article 16(1) of Directive 2011/61/EU” substitute “rule 3.6.3 of the Investment Funds sourcebook”;
(d) in paragraph 4—
(i) in the opening words, for “point (c) of Article 23(4) of Directive 2011/61/EU” substitute “rule 3.2.5(3) of the Investment Funds sourcebook”;
(ii) in the second subparagraph, for “Article 22(1) of Directive 2011/61/EU” substitute “rules 3.3.2 to 3.3.4 of the Investment Funds sourcebook”;
(e) in paragraph 5—
(i) in the first subparagraph, for “point (c) of Article 23(4) of Directive 2011/61/EU” substitute “rule 3.2.5(3) of the Investment Funds sourcebook”;
(ii) in the second subparagraph, for “Article 22(1) of Directive 2011/61/EU” substitute “rules 3.3.2 to 3.3.4 of the Investment Funds sourcebook”.
(7) In Article 109—
(a) in paragraph 1, for “Article 23(5) of Directive 2011/61/EU” substitute “rule 3.2.6 of the Investment Funds sourcebook”;
(b) in paragraph 3, for “Article 22(1) of Directive 2011/61/EU” substitute “rules 3.3.2 to 3.3.4 of the Investment Funds sourcebook”.
(8) In Article 110—
(a) in the heading, for “competent authorities” substitute “the FCA”;
(b) in paragraph 1, in the opening words—
(i) for “the second subparagraph of Article 24(1) and of point (d) of Article 3(3) of Directive 2011/61/EU”, substitute “rule 3.4.2 of the Investment Funds sourcebook, and directions given by the FCA under regulation 21(2) of the AIFM Regulations 2013”;
(ii) for “competent authorities” substitute “the FCA”;
(c) in paragraph 2—
(i) in the opening words—
(aa) after “market in the” insert “United Kingdom or the”;
(bb) for “the competent authorities of their home Member State”, substitute “the FCA”;
(cc) for “Article 24(2) of Directive 2011/61/EU” substitute “rule 3.4.3 of the Investment Funds sourcebook”;
(ii) in point (a), for “point (a) of Article 23(4) of Directive 2011/61/EU” substitute “rule 3.2.5(1) of the Investment Funds sourcebook”;
(iii) in point (f) for “point (b) of Article 15(3) and the second subparagraph of Article 16(1) of Directive 2011/61/EU” substitute “rules 3.6.3(2) and 3.7.5(2)(b) of the Investment Funds sourcebook”;
(d) in paragraph 3—
(i) in point (a)—
(aa) for “points (a) and (b) respectively of Article 3(2) of Directive 2011/61/EU” substitute “subparagraphs (a) and (b) respectively of regulation 9(1) of the AIFM Regulations 2013”;
(bb) for “the EU AIFs” substitute “the UK and EU AIFs”;
(cc) after “they market”, insert “in the United Kingdom or”;
(ii) in point (b)—
(aa) for “the EU AIFs” substitute “the UK and EU AIFs”;
(bb) for “in the Union” substitute “in the United Kingdom or in the Union”;
(e) in paragraph 4, for “the competent authority of the home Member State of the AIFM”, substitute “the FCA”;
(f) in paragraph 5, for “Article 24(4) of Directive 2011/61/EU” substitute “rule 3.4.5 of the Investment Funds sourcebook”;
(g) omit paragraph 7.
(9) In Article 111—
(a) in paragraphs 1 and 2, for “Article 24(4) of Directive 2011/61/EU” substitute “rule 3.4.5 of the Investment Funds sourcebook”;
(b) in paragraph 2, for “competent authorities of their home Member States” substitute “FCA”.

---
Source: https://www.legislation.gov.uk/ukdsi/2018/9780111175323/regulation/36 (the official version)
Page: https://openlegislation.uk/draft-alternative-investment-fund-managers-amendment-etc-eu-exit-regulations-2018/regulation-36
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.