(Articles 12 and 18 of Directive 2011/61/EU)
1. AIFMs shall:
(a) establish, implement and maintain decision-making procedures and an organisational structure which specifies reporting lines and allocates functions and responsibilities clearly and in a documented manner;
(b) ensure that their relevant persons are aware of the procedures to be followed for the proper discharge of their responsibilities;
(c) establish, implement and maintain adequate internal control mechanisms designed to secure compliance with decisions and procedures at all levels of the AIFM;
(d) establish, implement and maintain effective internal reporting and communication of information at all relevant levels of the AIFM and effective information flows with any third party involved;
(e) maintain adequate and orderly records of their business and internal organisation.
AIFMs shall take into account the nature, scale and complexity of their business and the nature and range of services and activities undertaken in t
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