1. AIFMD
The Alternative Investment Fund Managers Directive 2011/61/EU
(AIFMD) was implemented in July 2013 and
prescribed new rules with respect to the authorisation, operation
and transparency of managers of alternative investment funds
(AIFs) which are marketed to professional
investors in the EU/EEA. It has been described as the most
fundamental piece of international regulation to ever impact the
funds industry and has had a profound effect on how managers of
funds located in or marketing into the EU operate their
business.
The fundamental changes introduced by AIFMD include those
relating to the authorisation of managers of alternative investment
funds (AIFMs), organizational requirements and
restrictions on such AIFMs (with respect to matters including
governance, capital requirements, delegation of duties, depository
functions and management of liquidity, risks and conflicts). In
addition AIFMD prescribes for continuing obligations, such as
reporting and
