AIFMD Level 2 Delegated Regulation meaning

EU financial services developments Commission publishes draft amendment to MAR level 2 measure The European Commission has released a draft modification to Commission Delegated Regulation (EU) 2016/522, a level 2 instrument under Regulation (EU) 596/2014 (MAR). Feedback is invited until 14 January 2026. The proposal would amend Delegated Regulation (EU) 2016/522 to: create a list of designated trading venues to implement the order data exchange mechanism in Article 25a of MAR for shares; and revise Annex II on practices outlining indicators of market manipulation, reflecting technological advances such as algorithmic trading, and correcting several erroneous cross-references Source: Consultation: Clarifications to the indicators of market manipulation and definition of scope of new order data exchange mechanism Council of EU and European Parliament agree Retail Investment Strategy measures The Council of the EU and the European Parliament have announced agreement on a directive amending MiFID II, Solvency II, the UCITS Directive and AIFMD, and on a regulation amending the PRIIPs Regulation....

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This Practice Note offers a synopsis of the organisational, valuation and delegation requirements under the Alternative Investment Fund Managers Directive (Directive 2011/61/EU) (AIFMD), as supplemented by Commission Delegated Regulation (EU) 231/2013 (EU AIFMD Level 2 Regulation). It sets out how alternative investment fund managers (AIFMs) should structure their operations and distils the principal provisions concerning asset valuation and delegation. What is the AIFMD? The AIFMD (Directive 2011/61/EU) came into force in EU Member States on 22 July 2013 and governs the management, administration and marketing of alternative investment funds (AIFs) across the EU. AIFMD, as implemented, applies to all EU AIFMs that manage one or more AIFs, whether those AIFs are EU AIFs or non-EU AIFs. The AIFMD, as implemented in EU Member States, also extends to: non-EU AIFMs who manage EU AIFs; and in part, non-EU AIFMs who actively market AIFs in the EU For general information on how the AIFMD applies, see: Investment funds, asset management, and benchmarks...

This FLASHCARD helps you take in and recall the key aspects of the Alternative Investment Fund Managers Directive 2011/61/EU (AIFMD). What is the AIFMD? The AIFMD (Directive 2011/61/EU) took effect across EU Member States on 22 July 2013 and regulates the management, administration and marketing of alternative investment funds (AIFs)—including hedge funds, private equity funds and real estate investment funds—throughout the EU. Commission Delegated Regulation (EU) 231/2013 (the AIFMD Level 2 Delegated Regulation) complements the AIFMD with detailed provisions on areas such as exemptions, general operating conditions, depositaries, leverage, transparency, and the oversight of alternative investment fund managers (AIFMs). Directive (EU) 2024/927 (AIFMD II), which amends the AIFMD, was published in the Official Journal of the EU on 26 March 2024 and entered into force on 15 April 2024. Member States must apply its measures from 16 April 2026, save for specified reporting updates that apply 12 months later, from 16 April 2027. For general guidance on applying the AIFMD, see: Investment funds, asset management,...

The Alternative Investment Fund Managers Directive (Directive 2011/61/EU) (AIFMD) establishes a comprehensive regime for the oversight of alternative investment fund managers (AIFMs) that market or manage alternative investment funds (AIFs) in the EU, including hedge funds, private equity funds and real estate investment funds. This Practice Note reviews core aspects of AIFMD and outlines its scope, available exemptions, the regulatory framework, the authorisation process and measures for small AIFs. It also examines the amendments introduced by Directive (EU) 2024/927 (AIFMD II), which took effect on 15 April 2024 and applies from 16 April 2026, save for certain reporting updates that commence 12 months later, from 16 April 2027... AIFMD regulatory framework AIFMD was published in the Official Journal of the EU (OJ) on 1 July 2011, entered into force on 21 July 2011 and was required to be implemented by EU Member States by 22 July 2013...