Alternative Investment Fund Managers Directive takes effect
The Alternative Investment Fund Managers Directive (AIFMD) was transposed into national law through the Alternative Investment Fund Managers Regulations 2013 and the Financial Conduct Authority’s associated rules and took effect on 22 July 2013. The directive aims to introduce a harmonised regulatory framework across the EU for EU-established managers of alternative investment funds.
In particular, the directive requires alternative investment fund managers to be authorised and contains provisions about how they should conduct their business, transparency and marketing. The directive will affect private-equity fund managers who manage funds or have investors in the EU, or if they are identified as the alternative investment fund manager of a particular fund or funds.
The regulations allow EU managers of alternative investment funds located in the EU to market to professional investors across Europe on a ‘passported’ basis, but it also subjects EU fund managers to much more rigorous reporting and disclosure requirements (for example, as to remuneration and leverage), capital requirements, the requirement to appoint a depositary and restrictions on the delegation and use of service providers…
If you are registered and logged in to the site, click on the link below to read the rest of the Walker Morris briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Walker Morris
News from The Lawyer
Briefings from Walker Morris
Justin Coley shares his observations arising from the amended forms N120 (Particulars of Claim for mortgaged residential premises) and N123 (Mortgage pre-action protocol checklist).
In Cowling v Worcester Community Housing Ltd, errors by the court have left a tenant in difficulties in a recent residential service charge challenge.
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
The law school war shows no signs of ending. But we have, perhaps, reached the end of the beginning.