This one minute guide, written in partnership with Lora Froud, partner, Andrew Henderson, partner, Louise Bralsford, solicitor, and Tiffany Cox, solicitor at Macfarlanes discusses the draft environmental social governance (ESG) measures to amend the Alternative Investment Fund Managers Directive (AIFMD), the Undertakings for Collective Investments in Transferable Securities (UCITS) Directive and the recast Markets in Financial Instruments Directive (MiFID II), including impact on the industry, Brexit implications, new concepts and next steps.