The European Union has finally succeeded in introducing a directive to establish a harmonised pan-EU framework for the regulation and supervision of the activities of alternative investment fund managers ("AIFM").

The Alternative Investment Fund Managers Directive ("AIFM Directive") will automatically apply to AIFM located in the EU. Its scope will also cover AIFM located outside the EU who manage EU based alternative investment funds ("AIF") and also, to a certain extent, non-EU AIFM managing non-EU AIF that are marketed in the EU.

We have prepared a guidance paper entitled "A guide to the AIFM Directive – Putting fund managers on the right path". This guidance paper presents an overview of the key provisions of the AIFM Directive and an analysis of how they will impact the operations of fund managers. While our e-briefing entitled "AIFMD Briefing Note", issued on 18 November last, provides a broad summary of the main provisions of the AIFM Directive, this guidance paper aims to address some of the most immediate questions that will be posed by fund managers now the AIFM Directive is finally a reality.

The frequently asked questions posed by fund managers which we have considered in the guidance paper are as follows:

  • Does the AIFM Directive apply to our business?
  • To what extent will the AIFM Directive affect our business?
  • What does authorisation require?
  • When does the AIFM Directive come into effect?
  • What will we need to do in advance of the AIFM Directive's introduction?

If you would like to receive a copy of our AIFM Directive guidance paper, please refer to the contact below or your usual contact at Eversheds O'Donnell Sweeney.

Stephen Carty  
Eversheds O'Donnell Sweeney
One Earlsfort Centre - Earlsfort Terrace - Dublin 2 – Ireland
T +353 1 6644202 - F +353 1 6644300
scarty@eversheds.ie
www.eversheds.ie

Disclaimer

This information is for guidance purposes only. It does not constitute legal or professional advice. Professional or legal advice should be obtained before taking or refraining from any action as a result of the contents of this publication. No liability is accepted by Eversheds O'Donnell Sweeney for any action taken in reliance on the information contained herein. Any and all information is subject to change. Eversheds O'Donnell Sweeney is not responsible for the contents of any other website or third party material which can be accessed through this website.

Eversheds O'Donnell Sweeney is an Irish partnership and a member firm of the Eversheds International network of firms affiliated with Eversheds International Limited, an English company limited by guarantee. Member firms of Eversheds International are independent firms and members of Eversheds International Limited, but have no authority to obligate or bind Eversheds International Limited or one another vis-à-vis third parties. Neither Eversheds International Limited nor any of its member firms have any liability for each other's acts or omissions.