The European Parliament draft report has added the following ancillary service:

Any other ancillary service that is not regulated as an investment service under Directive 2014/65/EU (MiFID II), which represents a continuation of services already undertaken by the AIFM or use of internal capabilities, and which does not create conflicts of interest that cannot be managed by additional rules. The scope of this extension is not clear and should be clarified.

Regarding the information to be provided by an AIFM seeking authorisation from a national regulator, the requirements are similar to those in the Commission proposal but the description of the role, title and level of seniority of persons effectively conducting the business of the AIFM does not have to be set out in detail. Regarding information on arrangements made for delegation and sub-delegation of functions to third parties, a description of the human and technical resources to be used by the AIFM is also required in the European Parliament draft report. However, the following list of required information is added by the European Parliament draft report:

• The legal name and legal entity identifier of the AIFM.
• The legal name and LEI of the AIF and its investment strategy.
• The legal name and LEI of each delegate, the jurisdiction in which it is established and, where relevant, its supervisory authority.
• A brief description of delegated risk management functions, including whether each such delegation amounts to partial or full delegation.
• A brief description of delegated portfolio management functions, by investment strategy and relevant geographical areas, including whether each such delegation amounts to partial or full delegation.
• A brief description of other functions listed in appendix I that the AIFM additionally performs.

Access the draft report of 16 May 2022 from the European Parliament here.