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ARTICLE · 21 NOVEMBER 2013

AIFMD Update

Dillon Eustace
Dillon Eustace
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Dillon Eustace

Dillon Eustace

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Following industry consultation, including with the Irish Debt Securities Association, on 8th November, 2013 the Central Bank of Ireland issued an update to their Questions and Answers on the Alternative Investment Funds Managers Directive and the Commission Delegated Regulation No 231/2013 originally published in May of this year.

IrelandFinance and Banking
Claire Kennedy
Claire Kennedy
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  • AIFMD Update – Central Bank of Ireland confirms that debt issuer SPVs are outside the scope of AIFMD

Following industry consultation, including with the Irish Debt Securities Association (of which Dillon Eustace is a founding member), on 8th November, 2013 the Central Bank of Ireland (the "CBI") issued an update to their Questions and Answers ("Q&A") on the Alternative Investment Funds Managers Directive (Directive 2011/61/EU) and the Commission Delegated Regulation (EU) No 231/2013 ("AIFMD") originally published in May of this year. The updated Q&A addresses the uncertainty that surrounded the applicability of the AIFMD to special purpose vehicles ("SPVs") established in Ireland, in particular in the context of whether such SPVs could be alternative investment funds ("AIFs") for the purposes of the AIFMD and thus subject to regulation thereunder. The following is the terms of the question and the CBI's response:

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