The Securities Commission of The Bahamas has signed a Memorandum of Understanding (MoU) under the Alternative Investment Fund Managers Directive (AIFMD) with French securities regulator the Autorité des Marchés Financiers (AMF).

The agreement will allow Bahamas-based alternative investment fund managers (AIFMs) to market and perform fund management activities for alternative investment funds (AIFs) in markets supervised by co-signatory European securities regulators.

The latest pact brings the total number of AIFMD MoUs signed by The Bahamas to 24.

The AIFMD, which came into effect in July 2013, is a regulatory framework initiated by the European Commission to supervise AIFMs.