The following Financial Services guidance note provides comprehensive and up to date legal information covering:
BREXIT: As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation period, during which it continues to be subject to EU law. This has an impact on this one minute guide. For further guidance on the impact of Brexit on AIFMs, please see Practice Note: Impact of Brexit: AIFMD—quick guide.
This one minute guide provides a condensed summary of the key requirements of the Alternative Investment Fund Managers Directive 2011/61/EU (AIFMD). For a more detailed summary and a chronological summary of the latest developments concerning AIFMD, see Practice Note: AIFMD—essentials and Checklist: Alternative Investment Fund Managers Directive (AIFMD)—timeline.
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 transitional period ended on 22 July 2014. The AIFMD applies to Alternative Investment Funds (AIFs) irrespective of where they are established,
All delegated acts contained in the AIFMD are set out in a single regulation—the AIFMD Level 2 Regulations (EU) 231/2013 (the Level 2 Regulations), including in particular, the rules relating to calculation of the threshold, leverage, operating conditions for AIFMs, including risk and liquidity management, valuation and delegation, requirements detailing
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