Difference between revisions of "AIFMD Anatomy"

From The Jolly Contrarian
Jump to: navigation, search
Line 1: Line 1:
{{aifmd intro}}
{{aifmd intro}}
===[[AIFMD]] table of contents====
===[[AIFMD]] table of contents===
===={{aifmdprov|Chapter I}}  — General provisions====
===={{aifmdprov|Chapter I}}  — General provisions====
===={{aifmdprov|Chapter II}}  — Authorisations of AIFMs====
===={{aifmdprov|Chapter II}}  — Authorisations of AIFMs====

Latest revision as of 07:03, 19 July 2019

AIFMD Anatomy

Directive 2011/61/EU (EUR Lex) | Implementing regulation 231/2013 (EUR Lex)
directive21 (depositary) | 21(4) (conflict management) | 21(8) (custody function) | 21(11) (custody delegation) | 21(12) (liability for loss of assets) | 21(13) (discharge of liability on delegation) | 21(14) (discharge of liability for Non-EU subcustodians) | 36 (depo-lite) | 36(1)
implementing regulation DR20 (Due diligence when appointing counterparties and prime brokers) | DR76 (objective reason) | DR89 (Safekeeping duties with regard to assets held in custody) | DR91 (reporting obligations for prime brokers) | DR98 (due diligence) | DR99 (segregation obligation) | DR100 (Loss of custody asset) |

AIFMD is a lover’s pet name for the EU’s Alternative Investment Fund Management Directive[1]

It came into force on 22 July 2013 and regulates:

Hedge funds and private equity funds and those managing them were not previously subject to the as much regulation as mutual funds (including UCITS) or pension funds, and some people[2] felt this lack of oversight contributed to the severity of the global financial crisis. So, enter AIFMD to redress that gap.

AIFMD table of contents

Chapter I — General provisions

Chapter II — Authorisations of AIFMs

Chapter III — Operating Conditions for AIFMs

Section 1 — General requirements
Section 2 — Organisational requirements
Section 3 — Delegation of AIFM functions
Section 4 — Depositary

Chapter IV — Transparency requirements

Chapter V — AIFMs Managing specific types of AIF

Section 1 — AIFMs managing leveraged AIFs
Section 2 — Obligations for AIFMs managing AIFs which acquire control of non-listed companies and issuers

Chapter VI — Rights of EU AIFMs to market and manage EU AIFs in the Union

Chapter VII — Specific rules in relation to Third Countries

Chapter VIII — Marketing to retail investors

Chapter IX — Competent authorities

Section 1 — Designation, powers and redress procedures
Section 2 — Cooperation between different competent authorities

Chapter X — Transitional and final provisions