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ARTICLE · 31 JULY 2025

AIFMD II: Preparing Strategically, Not Reactively

Ganado Advocates
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The AIFMD II reform (Directive (EU) 2024/927) brings significant updates to the AIFMD and UCITS Directive, strengthening the regulatory framework for AIFs and UCITS.

European UnionFinance and Banking
Mark Caruana Scicluna
Mark Caruana Scicluna
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The AIFMD II reform (Directive (EU) 2024/927) brings significant updates to the AIFMD and UCITS Directive, strengthening the regulatory framework for AIFs and UCITS.

AIFMD II targets critical areas such as liquidity risk management, delegation requirements, supervisory reporting, depositary services, and loan origination by AIFs. The implementation deadline for AIFMD II is set for 16 April 2026. Management companies should now shift from awareness to action – reviewing their operations, updating fund documentation and internal policies, and preparing for increased regulatory scrutiny.

This article focuses on the key areas of AIFMD II that are most relevant to AIFMs.

Loan origination: A dedicated framework for AIFs

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