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ARTICLE · 29 NOVEMBER 2024

AIFMD II Consultation Opens In Ireland

The Department of Finance in Ireland opened a public consultation on 22 November 2024 inviting submissions on the exercise of certain national discretions in Directive (EU) 2024/927 ("AIFMD II").

IrelandWealth Management

The Department of Finance in Ireland opened a public consultation on 22 November 2024 inviting submissions on the exercise of certain national discretions in Directive (EU) 2024/927 ("AIFMD II").

AIFMD II amends Directive 2011/61/EU (the Alternative Investment Fund Managers Directive)("AIFMD") and makes certain changes to Directive 2009/65/EC (the "UCITS Directive"). EU member states have until 16 April 2026 to transpose AIFMD II into national law.

Most of the provisions in AIFMD II will be transposed on a fully harmonised basis across the EU. However, there are a number of provisions pursuant to which each member state, including Ireland, has discretion on the application of the provision under its local law.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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