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ARTICLE · 13 DECEMBER 2021

Sub-Threshold AIF Managers Under AIFMD II: Quo Vadimus?

ARGO
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The long awaited ‘AIFMD II' proposal was published by the European Commission in November 2021. It contains the proposal to amend amongst others the AIFMD Directive 2011/61/EU.

BelgiumFinance and Banking
S. Verschoot
S. Verschoot

INTRODUCTION

The long awaited 'AIFMD II' proposal was published by the European Commission in November 2021 (the "Proposal")1. It contains the proposal to amend amongst others the AIFMD Directive 2011/61/EU (the "AIFMD").2 Although summaries of the Proposal have been published elsewhere, we noted that the Proposal does not include additional harmonization regarding sub-threshold managers of alternative investment funds ("AIFMs").

This note intends to give further background on the rules surrounding of these sub-threshold AIFMs, the ongoing discussions, and whether or not they are now in 'safer waters' given that the Proposal leaves them untouched. To do so, we a.o. provide a summary of the responses to the EC public consultation.

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