The Public Affairs Committee continue to consider the effects of MiFID II on AREF members. One of the areas that is particularly relevant to AREF member funds that are Non UCITS Retail Schemes (NURS) is whether such funds should be regarded as “complex” or “non-complex”. - for more information can be found in an article written by a member of the committee, John Forbes from John Forbes Consultancy.  

In light of the MiFID II changes that took effect from 3 January 2018, intermediaries, who act for investors in institutional real estate funds, should ensure they have reviewed their policies and processes for executing client orders in the context of secondary trade sales and purchases. Melville Rodrigues from CMS, a member of the AREF Public Affairs Committee, wrote an article giving more detail on this subject.