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| Alternative Investment Fund Managers Directive {{eudirective|2011|61|EU}}
| | {{aifmd intro}} |
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| Also Commission Delegated Regulation (EU) No {{euregulation|231|2013}} of 19 December 2012 (the [[AIFMD Delegated Regulation]])
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| ===Overview===
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| The '''Alternative Investment Fund Managers Directive''' [http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2011:174:0001:01:EN:PDF 2011/61/EU] ("AIFMD") is a [[European Union]] Directive that entered into force on 22 July 2013. The Directive regulates:
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| * [[EU]] fund managers that manage alternative investment funds (essentially [[hedge funds]] and [[private equity]] funds) ("AIFs") (wherever they are based);
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| * fund managers (wherever they are based) that manage AIFs established in the [[EU]]; and
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| * fund managers (wherever they are based) that market the units or shares of an AIF in the [[EU]].
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| [[Hedge fund]]s and [[private equity fund]]s and their Investment Managers (AIFMs) have not been subject to the same rules to protect the investing public as mutual (including [[UCITS]]) and pension funds and their managers. In general, the lack of [[financial regulation]] is seen by some{{cn|date=August 2013}} to have contributed to the severity of the [[global financial crisis]]. The Directive was aimed at redressing this perceived regulatory gap.
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| ===Application=== | | ===Application=== |