UK regulator faces backlog of AIFMD paperwork

Deadline next week, FCA yet to process half of 930 applications

financial-conduct-authority-canary-wharf

The UK's Financial Conduct Authority (FCA) has still not processed half of the applications it has received from fund managers seeking authorisation under the alternative investment fund managers directive (AIFMD).

Despite telling managers to fill in their AIFM paperwork early the financial watchdog has about 480 applications left to process before the July 22 deadline.

Lara Joseph, spokesperson for the FCA, says the regulator aims to process a full-scope UK AIFM's application within three month

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