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ARTICLE · 24 JUNE 2013

Getting Ready For The Alternative Investment Fund Managers Directive

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The countdown for the implementation of the EU Alternative Investment Fund Managers Directive has now begun and Member States are required to implement the Directive into national law by 22 July 2013.

European UnionFinance and Banking
Marlies Braun
Marlies Braun

The countdown for the implementation of the EU Alternative Investment Fund Managers Directive (the Directive) has now begun and Member States are required to implement the Directive into national law by 22 July 2013.

The Directive requires most EU investment fund managers (and depositaries of such funds) to be authorised before they can start managing and marketing their funds within the EU, and contains rules governing how they structure and organise their business and services.

It will be implemented jointly by the Financial Services Authority (FSA) and HM Treasury. Late last year the FSA published the first part of its consultation paper1 on the implementation of the Directive, and HM Treasury followed earlier this year with the first part of its consultation. The second parts of these consultation papers are expected to be issued shortly. In December 2012 the European Commission published the long awaited draft level 2 regulations which implement the Directive

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