The UK Financial Conduct Authority (FCA) has approved Omni Partners’ application for an authorised licence under the Alternative Investment Fund Managers Directive (AIFMD).
The granting of the licence allows Omni Partners to continue to offer wealth management and institutional clients access to its alternative investment funds as part of an EU-wide harmonised framework.
Citibank International has been appointed as independent depositary, complying with the requirements of the Directive.
Omni’s chief executive Peter Coates says: “It is Omni’s aim to be at the spearhead of alternative investment fund management best practice on a global basis. This licence is evidence of our commitment to providing the highest standards of integrity, ethics, and regulatory compliance to investors.”
The AIFMD has a number of aims including the enhancement of supervisory practices with a view to preventing instability within the European financial system, improving investor protection through the imposition of new depository standards, and enhancing transparency via new investor disclosure rules and mandatory reporting to competent authorities.