ARTICLE
29 February 2024

AIFMD II – A Step Closer To Entry Into Force

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Ganado Advocates

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Ganado Advocates is a leading commercial law firm with a particular focus on the corporate, financial services and maritime/aviation sectors, predominantly servicing international clients doing business through Malta. The firm also promotes other areas such as tax, pensions, intellectual property, employment and litigation.
On 26 February 2024, the Council of the European Union announced that it adopted the proposed Directive amending the Alternative Investment Fund Managers Directive (2011/61/EU)...
European Union Finance and Banking

On 26 February 2024, the Council of the European Union announced that it adopted the proposed Directive amending the Alternative Investment Fund Managers Directive (2011/61/EU) ("AIFMD") and the UCITS Directive (2009/65/EU), commonly referred to as the 'AIFMD II' (2021/0376 (COD)).

The targeted amendments to AIFMD and the UCITS Directive form part of a package of reforms adopted by the European Commission to progress its second action plan on the Capital Markets Union. The key provisions of AIFMD II deal with the following:

  1. Delegation Arrangements
  2. Liquidity Risk Management
  3. Loan Origination by Alternative Investment Funds
  4. Depositary Services
  5. Ancillary Services
  6. Fund Marketing
  7. Investor Transparency and Supervisory Reporting.

AIFMD II will now be published in the EU's official Journal and will enter into force 20 days later. Member states will have 24 months after the entry into force to transpose the rules into national legislation.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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