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ARTICLE · 13 JANUARY 2011

UCITS, Non-UCITS & Hedge Funds

Dillon Eustace
Dillon Eustace
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Dillon Eustace

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At its meeting held in Luxembourg on 19 October, 2010, the ECOFIN reached agreement on the draft Alternative Investment Funds Managers Directive ("AIFMD").

IrelandFinance and Banking
Dillon Eustace
Dillon Eustace
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(a) EC's Draft Directive on Alternative Investment Fund Managers

At its meeting held in Luxembourg on 19 October, 2010, the ECOFIN reached agreement on the draft Alternative Investment Funds Managers Directive ("AIFMD"). On 11 November, a successful plenary vote by the European Parliament has led to the adoption of the AIFMD. Further details on the implementation of the AIFMD will be decided in 2011. The AIFMD is due to be implemented across the EU in 2013.

In November, 2010 the IFIA published an "Industry Information Note" outlining some of the main issues that apply to the fund industry in Ireland.

As previously set out, the draft AIFMD on AIFM covers Non-UCITS funds including hedge funds, private equity and commodity funds and aims to create a harmonised regulatory and supervisory framework for AIFM within Europe.

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