Template:Aifmd intro
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AIFMD is the pet name for the EU’s Alternative Investment Fund Management Directive[1]
It came into force on 22 July 2013. It regulates:
- EU fund managers that manage alternative investment funds (essentially hedge funds and private equity funds) ("AIFs") (wherever they are based);
- Fund managers (wherever they are based) that manage AIFs established in the EU (So-called “EU AIF”s); and
- fund managers (wherever they are based) that market the units or shares of an AIF (whether or not in the EU; if not, a “Non-EU AIF”) in the EU.
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.
- ↑ EU Directive 2011/61/EU (EUR Lex) and Commission Delegated Regulation (EU) No 231/2013 (EUR Lex) of 19 December 2012 (the AIFMD Delegated Regulation)
- ↑ Do-gooders, obviously.