Definitions

  • AAIF - Act on Alternative Investment Funds (Croatia)
  • AFM - Autoriteit Financiële Markten (The Netherlands)
  • AFMA - Alternative Fund Managers Act (Finland)
  • AIF - Alternative Investment Fund, defined in the AIFMD as: “A collective investment undertaking, including investment compartments of such an undertaking, which raises capital from a number of investors, with a view to investing it in accordance with a defined investment policy for the benefit of these investors; and does not require authorisation pursuant to Article 5 of the UCITS directive.” 
  • AIFA - Alternative Investment Funds Act (Norway)
  • AIFFM - Law on Alternative Investment Funds and Fund Managers (Latvia)
  • AIFM - Alternative Investment Fund Manager, defined in the AIFMD as a legal person whose regular business is managing one or more AIFs 
  • AIF Law - Cypriot Law 131(I) / 2014 on Alternative Investment Funds
  • AIFMD - Alternative Investment Fund Managers Directive of 8 June 2011 (2011 / 61 / EC)
  • AIFMG - Alternative Investment Fund Managers Act (Austria)
  • AIFM Law - Cypriot Law 56 (I) / 2013 on Alternative Investment Fund Managers
  • AIFMG-L - Alternative Investment Fund Managers Law (Liechtenstein)
  • AIFM Regulations - Alternative Investment Fund Managers Regulations 2013 (United Kingdom)
  • AIFMV - Alternative Investment Fund Managers Ordinance (Liechtenstein)
  • AIFR - Alternative Investment Funds Regulations (Norway)
  • AIM Act - Danish AIFMD regulation
  • AMF - Autorité des marchés financiers (France)
  • CA - Companies Act (Malta)
  • Capital Market Law - Law no. 297 / 2004, implementing the Prospectus Directive (Romania)
  • CBI - Central Bank of Ireland
  • CECII - Closed-Ended Collective Investment Institutions (Spain)
  • CFA - Consolidated Financial Act (Legislative Decree no. 58 / 1998) (Italy)
  • CIS - Collective Investment Scheme
  • CISA - Collective Investment Scheme Act (Switzerland)
  • CISO - Collective Investment Scheme Ordinance (Switzerland)
  • CMA - Capital Market Act (Croatia)
  • CMVM - Securities Market Commission (Portugal)
  • COBO - Control of Borrowing (Jersey) Order 1958
  • Consob - Commissione Nazionale per le Società e la Borsa (Italy)
  • CSSF - Commission de Surveillance du Secteur Financier (Luxembourg)
  • CySEC - Cyprus Securities and Exchange Commission
  • DFSA - Danish Financial Supervisory Authority
  • Draft CFA - Draft amendments to the Consolidated Financial Act (Legislative Decree no. 58 / 1998) (Italy)
  • EEA - European Economic Area
  • EFSA - Estonian Financial Supervision Authority
  • EU AIF - AIF which is registered or authorised in an EU State under the applicable national law or which is not registered or authorised in an EU State but has its registered office and / or head office in an EU State
  • EU AIFM - AIFM which has its registered office in an EU State
  • EuSEF - European Social Entrepreneurship Funds
  • EuVECA - European Venture Capital Companies
  • FATF - Financial Action Task Force
  • FCA - Financial Conduct Authority (United Kingdom)
  • FCA Handbook - FCA’s handbook of rules and guidance for regulated firms (United Kingdom)
  • Financial Promotions Order - Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (United Kingdom) 
  • FIN-FSA - Financial Supervisory Authority (Finland)
  • FINMA - Financial Market Supervisory Authority (Switzerland)
  • FMA - Financial Market Authority (Austria)
  • FSC - Financial Supervision Commission (Bulgaria)
  • FSJL - Financial Services (Jersey) Law 1998
  • FSMA - Financial Services and Markets Authority (Belgium)
  • FSMA - Securities Markets Act (Finland)
  • FTA - Swedish Financial Instruments Trading Act
  • GFSC - Guernsey Financial Services Commission
  • HCMC - Hellenic Capital Market Commission
  • HNWIs - High Net Worth Individuals
  • HUF - Hungarian Forint
  • ISA - Investment Services Act (Malta)
  • ISIN - International Securities Identification Number
  • IUG - Law on Investment Undertakings (Liechtenstein)
  • JFSC - Jersey Financial Services Commission
  • KIID - Key Investor Information Document (Sweden)
  • LECROSI - Law 22 / 2014, which governs venture capital entities, other closed-ended collective investment institutions and management companies of closed-ended collective investment institutions and which amends Law 35 / 2003, of November 4th, governing collective investment institutions. (Spain)
  • LMFI - Law on Market for Financial Instruments (Latvia)
  • MFSA - Malta Financial Services Authority
  • MiFID - Markets in Financial Instruments Directive of 21 April 2004 (Directive 2004 / 39 / EC)
  • MiFID law - Cypriot Law 144(I) / 2007, transposing MiFID
  • MTF - Multilateral Trading Facility
  • NAV - Net asset value
  • NCCT - Non-Cooperative Country and Territory
  • New IFA - New Investment Funds Act (Estonia)
  • NOK - Norwegian Krone
  • Non-EEA - Non-European Economic Area
  • Non-EU AIF - AIF not qualifying as an EU-AIF
  • Non-EU AIFM - AIFM which has its registered office in a state which is not an EU State
  • OECII - Open-Ended Collective Investment Institutions (Spain)
  • PDR - Prospectus (Directive) Regulations 2005 (Ireland)
  • POI Law - Protection of Investors (Bailiwick of Guernsey) Law
  • Prospectus Directive - Directive 2003 / 71 / EC of 4 November 2003 on the prospectus to be published when securities are offered to the public or admitted to trading
  • Prospectus Law - Cypriot Law 114(I) / 2005, transposing the Prospectus Directive
  • Prospectus Law - Greek law implementing Directive 2003 / 71 / EC, as amended (law 3401 / 2005 as amended by law 4099 / 2012
  • QIs - Qualified Investors (for Swiss law purposes)
  • Romanian FSA - Romanian Financial Supervisory Authority
  • SAIFM Act - Swedish Act on Alternative Investment Fund Managers
  • SEC - Securities and Exchange Commission (United States of America)
  • SFSA - Swedish FSA
  • SICAR - Société d’Investissement en Capital A Risque (Luxembourg)
  • SIF - Specialised Investment Fund (Luxembourg)
  • SMA - Securities Market Act
  • Small AIFM - AIFM managing AIFs whose assets under management, calculated in accordance with Article 2 of the AIFMD Level 2 Regulation: do not exceed EUR 500m in total in cases where the portfolios of AIFs consist of AIFs that are unleveraged and have no redemption rights exercisable during a period of five years following the date of initial investment in each AIF; or do not exceed EUR 100m in total in other cases, including any assets acquired through the use of leverage.
  • SPA - Securities Prospectus Act (Liechtenstein)
  • Third Country Regulations - The Investment Services Act (Alternative Investment Fund Manager) (Malta)
  • UCIS - Unregulated Collective Investment Schemes
  • UCITS - Undertakings for Collective Investment in Transferable Securities
  • UCITS Act - Swedish UCITS Act
  • UK AIFM - AIFM which has its registered office in the United Kingdom
  • VCE - Venture Capital Entities
  • ZISDU-2 - Investment Trusts and Management Companies Act (Slovenia)
  • ZTFI - Financial Instruments Market Act (Slovenia)