UK AIFM regime

UK AIFM regime

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

What is the AIFMD?

The Alternative Investment Fund Managers Directive 2011/61/EU (AIFMD) entered into force on 21 July 2011 and had to be implemented by EU Member States by 22 July 2013. The AIFMD provides a comprehensive framework for the regulation of AIFMs marketing or managing alternative investment funds (AIFs) in the EU. For information about 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 implementation of AIFMD

The Financial Conduct Authority (FCA), in conjunction with HM Treasury implemented the AIFMD through changes to primary and secondary legislation and a number of aspects of the FCA’s Handbook, including the introduction of the Investment Funds sourcebook (FUND). The FCA also made a number of operational changes, including changes to the categorisation of certain firms and to certain regulatory returns. For a comprehensive overview of the UK AIFM regime (including

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