Ireland is among the first European jurisdictions to fully
implement the Alternative Investment Fund Managers Directive
("AIFMD") in advance of the 22 July 2013
deadline. Today, the Irish regulations transposing the AIFMD
have been published on the Department of Finance website.
The European Communities (Alternative Investment Fund Managers)
Regulations 2013 (the "AIFMD
Regulations"), which were signed by the Minister for
Finance on 16 July 2013, represent a faithful transposition of the
AIFMD and do not impose additional or stricter requirements to
those imposed by the AIFMD. The discretions afforded to Member
States in the AIFMD have been availed of, including allowing
alternative investment fund managers
("AIFM") to market to retail investors
in Ireland and the inclusion of an alternative category of eligible
depositary (ie, entities subject to professional registration such
as lawyers and notaries) for AIFs with no redemption rights
exercisable in the first
