The DATA Affiliate Group was formed following the implementation of the Alternative Investment Fund Managers Directive, and comprises a number of recently established Private Equity/Alternative Investment Fund Depositaries in the UK.
The purpose of the Affiliate group is to represent industry views to regulatory bodies and to establish industry best practice in complying with this new and complex legislation. HDC is an active member of one of the working groups within the Affiliate membership collating current member practices with a view to the production of a technical guidance paper.
Gerry Warwick, Director, welcomed the news. ‘We are pleased that DATA has created an affiliate membership to represent the interests of depositaries, providing a forum for effective liaison with the regulator and for ongoing communication between depositaries.’