The Alternative Investment Fund Managers Directive
The Level 1 Alternative Investment Fund Managers Directive (AIFMD or the Directive) was passed on 22 July 2011, with a two year transposition period, meaning implementation by Member States must be achieved by 22 July 2013.
After considerable delay, the Level 2 Commission Delegated Regulation (Level 2, or the Regulation) was finally published on 19 December 2012.
As the direction of travel is now more settled, implementation planning should now be started.
Please note, as a fast developing area of law, clients are advised to seek individual advice in relation to the AIMFD to ensure they are alerted to recent developments.