UK AIFM regime

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This Overview provides a guide to the Financial Services content in the UK Alternative Investment Fund Managers (AIFM) regime subtopic, with links to appropriate materials.

What is the AIFMD?

 The UK AIFM regime is derived from the Alternative Investment Fund Managers Directive 2011/61/EU (AIFMD), which entered into force on 21 July 2011 and was required to be implemented by EU Member States by 22 July 2013. AIFMD provides a comprehensive framework for the regulation of AIFMs that market or manage alternative investment funds (AIFs) in the EU. For information on the EU AIFMD regime, see the Investment funds, asset management, and benchmarks subtopic: Investment funds, asset management, and benchmarks (EU Law) in the EU Law module.

UK AIFM regime

The Financial Conduct Authority (FCA), in conjunction with HM Treasury, implemented the AIFMD through changes to primary and secondary legislation and to various parts of the FCA Handbook, including the introduction of the Investment Funds sourcebook (FUND).

At present, the UK AIFM regime remains closely aligned with AIFMD (as implemented). The main differences since 31 December 2020

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