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ARTICLE · 18 DECEMBER 2023

AIFMD 2.0 Is On The Way

Matheson
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Following political agreement during the summer, in November 2023, the Council of the EU ("Council") published the final text of the directive amending the Alternative Investment Fund Managers Directive ("AIFMD")...

European UnionFinance and Banking
Matheson LLP
Matheson LLP
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Following political agreement during the summer, in November 2023, the Council of the EU ("Council") published the final text of the directive amending the Alternative Investment Fund Managers Directive ("AIFMD") and the UCITS Directive (we will refer to the amending directive as "AIFMD 2.0" in this briefing note). We have set out below the key changes introduced to both the AIFMD and UCITS framework.

Authorisation

In an effort to harmonise requirements in member states with regard to substance, the recitals to AIFMD 2.0 require that AIFMs and UCITS management companies (fund management companies or "FMCs") should provide information when applying for authorisation about the human and technical resources it will employ to carry out its functions and supervise its delegates. The recitals state that at least two EU-resident natural persons who are employed by the FMC or are executive members or members of the board should be appointed to conduct the business

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