AIFMD
Alternative Investment Fund Managers Directive
EU regulation governing alternative investment fund managers and their funds.
AIFMD regulates managers of alternative investment funds including private equity, hedge funds, real estate funds, and commodity funds within the EU. The directive requires fund managers to obtain authorization, meet capital requirements, and comply with operational standards including risk management and conflicts of interest policies. AIFMD includes detailed reporting requirements to supervisory authorities and disclosure requirements to investors. Managers of funds above certain thresholds must comply with additional requirements including depositary rules and leverage limits. The directive enables passporting rights for authorized managers to market funds across the EU. AIFMD aims to enhance investor protection, improve market efficiency, and provide regulatory oversight of previously lightly regulated alternative investment sector.
Example
Hedge fund manager authorization, private equity fund reporting requirements, depositary appointment