The long-awaited Implementing Regulations for the AIFM Directive (so-called “Level 2”) were published by the European Commission on December 19, 2012. Completing a winding legislative road that commenced with the publication of the first draft of the AIFM Directive in mid-2009, the Regulations will affect fund managers of almost all types worldwide. The Implementing Regulations do not answer all the questions asked of – or solve all the problems created by – the AIFM Directive itself. Nevertheless, fund managers now have enough information to analyse the impact of the AIFM Directive on their structures and businesses, and to take appropriate action in advance of the implementation deadline of July 22, 2013.View full memo, AIFMD “Level 2” Published – Time to Get Moving!
