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ARTICLE · 04 AUGUST 2023

What Is Included In The AIFMD II Provisional Agreement?

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On 19 July, the EU's institutions reached a provisional agreement on revisions to the AIFMD (AIFMD II) and parts of the UCITS regime.

GlobalStrategy
Samuel Brooks
Samuel Brooks
Richard Fletcher
Richard Fletcher
Harriet Miller
Harriet Miller
Michael Sholem
Michael Sholem

On 19 July, the EU's institutions reached a provisional agreement on revisions to the AIFMD (AIFMD II) and parts of the UCITS regime. The provisional agreement concludes the political negotiations. A period of legal and technical negotiation will follow to clarify and agree the drafting of the legislative text.

The "technical trialogue" meetings are scheduled for early September. Therefore, we expect the final legislative text to be published in late September. Finalisation of the process and publication in the EU's Official Journal is expected in early 2024. Member States will have 24 months to apply the AIFMD II in national rules, meaning that implementation can be expected by early 2026. A grandfathering period is expected for loan origination funds constituted before the legislation enters into force in early 2024 – early drafts set the transitional period at 5 years.

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