AIFMD Report – A First Step Towards AIFMD 2

Although the AIFMD is still somewhat in its youth, this key asset management Directive contains a review clause that required the European Commission to start to review the application and scope of the directive in July 2017. A first important milestone in this review was reached in January 2019 when the Commission published a report exploring whether the AIFMD's objectives had been met. The report includes a number of key findings that give asset managers a taste of what might be to come in the second incarnation of this key legislation.

In the report, a number of AIFMD requirements were assessed against five major principles: effectiveness, efficiency, coherence, and relevance and EU added value.  The European Commission engaged KPMG to prepare this report based on a survey covering 15 selected member states, with input from other jurisdictions, including non-EU countries.