Provisional Agreement Reached On AIFMD And UCITS Reforms

As detailed in our in-depth briefing on proposed reforms to the AIFMD and UCITS frameworks, the European Commission published a package of targeted changes to both the AIFMD and UCITS frameworks in November 2021. These proposals, which form part of the European Commission's Capital Markets Union measures, were identified as necessary to bring proportionate improvements to the existing regulatory frameworks to address a number of regulatory gaps in the areas of liquidity management, delegation, supervisory reporting and loan-originating funds amongst others.

Trialogue negotiations between the Council of Europe, the European Parliament and the European Commission began in March 2023. As outlined in our March 2023 briefing, there were a number of key areas of interest to Irish fund management companies to be finalised as part of these negotiations.