Concerns about disparate registration and reporting requirements imposed by the national private placement regimes (NPPRs) that have arisen since the Alternative Investment Fund Managers Directive (AIFMD) became effective have caused many non-E.U. hedge fund managers to hesitate when considering marketing their funds into the E.U.  However, as marketing under the NPPRs has evolved in the two years since the AIFMD took effect, much has been learned about how each jurisdiction’s regulators intends to treat non-E.U. fund managers.  A recent program presented by Advise Technologies sought to dispel some of the concerns of non-E.U. fund managers with respect to registration and reporting requirements and offered insights into how NPPRs function in practice.  The program, “Non-E.U. Fund Managers: Why AIFMD Is Easier Than You Think,” was moderated by William V. de Cordova, Editor-in-Chief of the Hedge Fund Law Report, and featured Bill Prew, Founder and CEO of INDOS Financial; Tim Slotover, Founder and Director of flexGC; Jeanette Turner, Managing Director and General Counsel of Advise Technologies; and Arne Zeidler, Founder and Managing Director of Zeidler Legal Services.  This article, the second in a two-part series, summarizes the key takeaways from the program with respect to the regulatory reporting requirements and the evolution of marketing under the NPPRs.  The first article addressed the initial entry requirements, pre-investment disclosures and annual reporting requirements under the NPPRs.  For more from Turner on marketing and reporting under the AIFMD, see “Seven Tips and Lessons Learned from January 2015 AIFMD Filers,” Hedge Fund Law Report, Vol. 8, No. 6 (Feb. 12, 2015); and “Key Pain Points in AIFMD Annex IV Reporting and Proven Strategies for Surmounting Them,” Hedge Fund Law Report, Vol. 7, No. 44 (Nov. 20, 2014).