Member State of reference definition

Member State of reference means the Member State determined in accordance with Article 37(4);

Member State of reference means the Member State of reference for a non-EU AIFM as determined in accordance with Article 37 paragraph 4;

Member State of reference means the Member State determined in accordance with these regulations;

Examples of Member State of reference in a sentence

• The procedure to determine the Member State of reference for benchmark administrators located in third countries that apply for recognition in the Union is cumbersome and time-consuming for both applicants and national competent authorities.

• A harmonised approach with ESMA as competent authority for third country benchmarks and their administrators avoids these risks and the costs of determining the Member State of reference as well as of the subsequent supervision.

• A7.5 Article 32(2) of BMR states that in order to assess compliance with the IOSCO principles for financial benchmarks or the IOSCO principles for Oil Price Reporting Agencies (PRAs), as applicable, national competent authority of the Member State of reference may rely on an assessment by an independent external auditor.

• The competent authorities of the Member State of reference of the AIFM shall enclose a statement to the effect that the AIFM concerned is authorised to manage AIFs with a particular investment strategy.

• The legal representative shall be established in the new Member State of reference.

• Specific requirements for the exchange of information between the competent authorities of the Member State of reference and the competent authorities of the host Member States of the AIFM should apply.

• In accordance with point (a) of Article 42(1) of Directive 2011/61/EU, for non-EU AIFMs, any reference to the competent authorities of the home Member State shall mean the competent authority of the Member State of reference.

• In order to ensure consistent harmonisation of this Article, ESMA shall develop draft regulatory technical standards to specify the procedures for coordination and exchange of information between the competent authority of the Member State of reference and the competent authorities of the host Member States of the AIFM.

• This advice should include procedures specific to the case of AIFM from third countries seeking to opt in after the phasing-in of the third country regime; in particular the determination of the Member State of reference.

• The procedure laid down in paragraphs 7 and 8 shall also apply in the event that the competent authorities of the host Member State have clear and demonstrable grounds for disagreement with the authorisation of a non-EU AIFM by the Member State of reference.

More Definitions of Member State of reference

Member State of reference means the Member State determined in

Member State of reference means the Member State determined in accordance with regulation 43(5) to (10);

Member State of reference means the Member State determined in accordance with Article 37(4); (aa) ‘non-EU AIF’ means an AIF which is not an EU AIF;

Member State of reference means the Republic determined in accordance with article 50 of this Law or another Member State determined in accordance with article 37(4) of the Directive 2011/61/EU;